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Snam SpA, Electricite de France SA Sees Closing Of TIGF Buy From Total SA Earlier Than Expected-DJ

Thursday, 4 Jul 2013 07:05am EDT 

Dow Jones reported that Snam SpA said it expects to close the EUR 2.4 billion ($3.12 billion) acquisition of TIGF, a French regional gas pipeline network, earlier than expected. The deal should close by the end of August which is earlier than our previous estimate of September. In April, French oil company Total SA signed a final agreement to sell TIGF to a group comprising Snam GIC, a Singaporean sovereign fund, and French state-controlled power utility Electricite de France SA. Snam holds 45% in the consortium, with GIC and EDF owning 35% and 20%, respectively. 

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