Italy Gas Transporter To Buy Majority Of Trans-Austria Pipeline

Law360, New York (March 19, 2014, 3:29 PM EDT) -- Italian gas transport group Snam S.p.A. said Wednesday that it would acquire 89 percent of the Trans-Austria Gas pipeline from Cassa Depositi e Prestiti as it continues to expand its share of the European infrastructure.

Terms of the deal weren't disclosed, but Cassa Depositi paid €483 million ($671.8 million), along with a €192 million loan reimbursement, for its stake in 2011. The TAG pipeline connects the Slovakian-Austrian border with Tarvisio in Italy and allows the country to import the Russian gas it has come to rely...
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