Companies & Finance

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 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.