CDP: acquisition of holding in TAG completed

Press release

CDP: acquisition of holding in TAG completed

Rome, 22 December 2011

Cassa Depositi e Prestiti S.p.A. (CDP) today executed the agreement reached with ENI S.p.A. (Eni) – announced on 10 June this year – for CDP to acquire Eni's holding, equal to 89% of existing shares, to which 94% of the financial rights attach, in Trans Austria Gasleitung GmbH (TAG). TAG holds the transport rights for the Austrian segment of the gas pipeline linking Russia to Italy. 
This transaction, which forms part of the undertakings given by Eni to the European Commission on 29 September 2010, has a total value of about €710 million, of which about €533 million as the price for the transfer of the holding and about €177 million for the repayment of the shareholder loan granted by Eni to the company.

 

 

 

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