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Total SA Enters Into Exclusive Negotiations On Proposed Sale Of TIGF To Snam, EDF And GIC
Total SA announced that it has entered into exclusive negotiations with a consortium comprising Snam, EDF and GIC1 that has submitted a firm offer to acquire all outstanding shares of Transport et Infrastructures Gaz France (TIGF). The offer values the Company at EUR2.4 billion. TIGF provides gas transmission and storage services in 15 departments in southwestern France. It manages a network of about 5,000 kilometers of pipeline that carries 13% of the total volume of gas transported in France and operates 22% of the country`s gas storage capacity.
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