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Project Insights

Snam-led consortium completes acquisition of DESFA

Italy’s transmission system operator Snam announced on Thursday that it had completed its acquisition of Greek counterpart DESFA
By Staff reporter 20 December 2018 Europe & Russia / Companies & Finance 0 33762

Italy’s transmission system operator Snam announced on Thursday that it had completed its acquisition of Greek counterpart DESFA as part of a consortium with Spain’s Enagás and Belgium’s Fluxys.

Snam will hold 60% of DESFA, while Enagás and Fluxys will hold 20% each. The consortium was awarded the tender in April 2018. The deal was worth €535 million ($614 million).

DESFA owns and operates a pipeline network covering about 1,500 km and the LNG terminal at Revithoussa.