- BUSINESS MEETINGS AND AGREEMENTS
- GLOBAL GAS & LNG
- ● PRICE SENSITIVE
San Donato Milanese (Milan), 22 September 2011 - Eni and Fluxys G have signed purchase agreements involving the sale to Fluxys Europe of Eni’s participations in the Transitgas (Switzerland) and TENP (Germany) gas pipelines.
Eni sells to Fluxys G, in the gas pipeline system in Switzerland, 46% stake in Transitgas AG and 100% stake in Eni Gas Transport International ("Eni GTI"),and, in the German gas pipeline, its 100% holdings in both Eni Gas Transport Deutschland ("Eni D") and Eni Gas Transport, as well as a 49% stake in Trans Europa Naturgas Pipeline KG ("TENP KG") and a 50% holding Trans Europa Naturgas Pipeline GmbH.
Transitgas AG and Eni GTI own the pipeline and the transportation rights for the Swiss section of the gas pipeline linking Belgium and Netherlands to Italy and in 2010 reported revenues of 110 million Swiss francs and 136 million Swiss francs respectively. TENP KG and Eni D own the pipeline and the transportation rights for the German section of the gas pipeline and in 2010 respectively reported revenues of €100 million and €67 million.
This disposal process is part of the commitments made to the European Commission on the 29 September 2010 and is, therefore, subject to its approval; the sale process is expected to be completed by the end of the year.
The sale provides for the payment of a total price of 974,7 million Swiss francs for the shares in Transitgas gas pipeline and € 60 million for the shares in TENP gas pipeline. The price will be adjusted at the closing date as per market practice.
Following the conclusion of the transaction, the ship-or-pay contract signed by Eni with Eni GTI and Eni D will remain in place.
Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): + 80011223456
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
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