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Snam SpA, Electricite de France SA and GIC Complete Acquisition of Total SA's TIGF

Tuesday, 30 Jul 2013 11:47am EDT 

Snam SpA announced that the Consortium constituted by Snam, the Italian gas transport and storage operator (45%), GIC, the Singaporean sovereign fund (35%) and Electricite de France SA (EDF) (20%, through its dedicated assets for the dismantling of nuclear plants) has completed the acquisition of TIGF (Transport et Infrastructures Gaz France), Total SA's gas transport and storage business, for an enterprise value of EUR 2.4 billion. This announcement follows the receipt of all required regulatory approvals, in particular the antitrust approval from the European Commission.