Eni Signs Deal To Sell Gas Pipeline Stakes To Fluxys

Italian energy giant Eni SpA (E) signed an agreement to sell its stakes in two natural gas pipelines to Belgian grid operator Fluxys SA (FLUX.BT), a person familiar with the deal told Dow Jones Newswires on Thursday.

Eni is selling Fluxys its stakes in the TENP and Transitgas pipelines, which carry Russian gas into Italy via Germany and Switzerland. The company is selling its 49% stake in TENP and a 46% shareholding in Transitgas.

Last year, Eni offered to sell its stakes in three international natural gas pipelines, which it valued at a total of around EUR1.5 billion, in a move aimed at ending a European investigation into market abuse.

The assets it is selling to Fluxys have been valued around EUR800 million.

-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88; alessandro.torello@dowjones.com

Fluxys Belgium (EU:FLUX)
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