Snam closes Eni gas asset buy for 4.5 bln euros

MILAN, June 30 (Reuters) - Italy's gas grid operator Snam Rete Gas SpA (SRG.MI) completed buying regulated gas assets from its parent Eni Spa (ENI.MI) on Tuesday for 4.509 billion euros ($6.37 billion), less than initially announced.

Snam paid 1.587 billion euros in cash for gas storage unit Stogit and 2.922 billion euros for gas distributor Italgas, it said in a statement.

Snam had said it would pay 3.07 billion euros for Italgas and 1.65 billion euros for Stogit.

The final price incorporates the net financial position of the two units at the end of 2008, dividends paid by the units to Eni, an oil company, in financial year 2008 and for interest accrued, Snam said.

The deal, announced in February, creates a leader in the regulated gas business in continental Europe with a regulated asset base of almost 20 billion euros.

Stogit controls 97 percent of Italy's gas storage capacity and Italgas is Italy's main gas distribution company. Eni owns 52.5 percent of Snam.

(Reporting by Stephen Jewkes)