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Snam, Fluxys pay 117 mln euros for E.ON stake in Interconnector (UK)
September 26, 2012 / 12:21 PM / 5 years ago

Snam, Fluxys pay 117 mln euros for E.ON stake in Interconnector (UK)

MILAN, Sept 26 (Reuters) - Italian gas transport group Snam and its Belgian peer Fluxys said on Wednesday they had completed the acquisition of the 15.09 percent stake of German utility E.ON in Interconnector (UK).

In a joint statement Snam and Fluxys said they had paid about 117 million euros for the stake, bringing their overall stake in the Interconnector to 31.5 percent.

The Interconnector owns and operates an underwater gas pipeline linking the UK and Belgium.

In January Snam and Fluxys signed an agreement to assess joint initiatives to develop gas infrastructure projects in Europe.

Snam is keen to develop a gas hub for Southern Europe and build out a north-south gas transport corridor to connect the Italian market with the main trading centres of northern Europe. (Reporting By Stephen Jewkes)

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