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France: New gas initiatives expand into country as Italian giant makes new purchase

By  |  March 13, 2013
France: New gas initiatives expand into country as Italian giant makes new purchase

Italy’s largest natural gas conglomerate Snam SpA now plans to finalize its acquisition of a major stake in Total SA after the European Commission cleared the deal. Total began hearing offers to sell its gas network in southwestern France. The network will go to Snam as well as Electricite de France SA and Government of Singapore Investment Corp. The sale totals $3.1 billion, and Snam will receive 45 percent share in the company. Snam announced plans to expand business throughout Europe through various acquisitions, though has not announced specifics as of yet.

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