EnBW to buy Eni out of German gas grid venture - sources

FRANKFURT, July 10 Thu Jul 10, 2014 1:01pm EDT

Related Topics

FRANKFURT, July 10 (Reuters) - German utility EnBW and Italy's Eni have agreed a deal for EnBW to buy Eni's stake in their gas grid joint venture in Germany, two sources familiar with the matter told Reuters on Thursday.

The deal was previously reported on Thursday by daily Stuttgarter Zeitung and the Wall Street Journal Deutschland, with the latter saying that EnBW was paying around 150 million euros ($205 million) for the stake.

Sources have previously said the Terranets joint venture, which operates a 2,000 km gas pipeline system in the German state of Baden-Wuerttemberg, could be worth about 300 million euros.

EnBW and Eni were not immediately available for comment.

($1 = 0.7331 Euros) (Reporting by Christoph Steitz; Writing by Victoria Bryan; Editing by Mark Potter)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.