Press release

CDP, TAG stake transferred to SNAM

Rome, December 19, 2014 – Cassa depositi e prestiti Spa (CDP) announces that today it has completed the transfer to SNAM SpA (SNAM) of the investment held by CDP GAS Srl - wholly owned by CDP - in Trans Austria GmbH Gasleitung (TAG).

Rome, December 19, 2014 – Cassa depositi e prestiti Spa (CDP) announces that today it has completed the transfer to SNAM SpA (SNAM) of the investment held by CDP GAS Srl - wholly owned by CDP - in Trans Austria GmbH Gasleitung (TAG).

As a result of the transaction, the total shareholding in SNAM by the CDP Group - via CDP Gas and CDP RETI Spa - is equal to 32.4%.

In view of the transfer, were issued in favor of CDP GAS 119 million ordinary shares of SNAM - corresponding to 3.4% of the share capital of SNAM, at an issue price equal to 4.218 euros - and was paid by SNAM in favor of CDP GAS a cash adjustment equal to about 3.1 million euros.

In addition, through funds provided by SNAM, was repaid to the CDP GAS a shareholder loan granted by TAG worth about 238.5 million euros.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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