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    Home > Finance > Snam's acquisition of Open Grid Europe stake delayed, Il Sole 24 Ore reports
    Finance

    Snam's acquisition of Open Grid Europe stake delayed, Il Sole 24 Ore reports

    Published by Global Banking & Finance Review®

    Posted on September 13, 2025

    2 min read

    Last updated: January 21, 2026

    Snam's acquisition of Open Grid Europe stake delayed, Il Sole 24 Ore reports - Finance news and analysis from Global Banking & Finance Review
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    Tags:equityinvestmentfinancial markets

    Quick Summary

    Snam's acquisition of a stake in Open Grid Europe is delayed due to German government concerns, affecting its entry into Europe's largest gas market.

    Table of Contents

    • Snam's Acquisition Overview
    • Details of the Acquisition
    • Concerns from the German Government
    • Company Leadership Review

    Snam's acquisition of Open Grid Europe stake delayed, Il Sole 24 Ore reports

    Snam's Acquisition Overview

    ROME (Reuters) -Italian gas grid group Snam's acquisition of a stake in Germany's largest independent gas transmission operator Open Grid Europe will not be finalised by end-September as scheduled, financial daily Il Sole 24 Ore reported on Saturday.

    Details of the Acquisition

    Snam signed a deal in April to buy a stake in OGE's owner Vier Gas Holding from Abu Dhabi's Infinity Investments for an equity value of 920 million euros ($1.08 billion), marking the group's entry into the German gas market, Europe's largest by volume.

    Concerns from the German Government

    The agreement, signed by former CEO Stefano Venier and expected to close in the third quarter of the year, is now being reviewed by new CEO Agostino Scornajenchi and the company's shareholders, the report said.

    Company Leadership Review

    "(It is) hard to say where these assessments will lead," the financial daily reported, without citing sources.

    Snam declined to comment.

    The report added that concerns raised by the German government over a share held by China's state grid in CDP Reti, which owns just over 30% of Snam, are also weighing on the decision.

    The German economy ministry did not immediately respond to a Reuters request for comment.

    ($1 = 0.8523 euros)

    (Reporting by Giulia Segreti; Additional reporting by Madeline Chambers in Berlin; Editing by Jan Harvey)

    Key Takeaways

    • •Snam's acquisition of Open Grid Europe stake is delayed.
    • •The deal was initially set to close by end-September.
    • •Concerns from the German government are influencing the delay.
    • •Snam's new CEO and shareholders are reviewing the agreement.
    • •The acquisition marks Snam's entry into the German gas market.

    Frequently Asked Questions about Snam's acquisition of Open Grid Europe stake delayed, Il Sole 24 Ore reports

    1What is the value of Snam's acquisition deal?

    Snam signed a deal to buy a stake in Open Grid Europe's owner, Vier Gas Holding, for an equity value of 920 million euros ($1.08 billion).

    2Why is the acquisition delayed?

    The acquisition is delayed due to a review by new CEO Agostino Scornajenchi and concerns raised by the German government regarding a share held by China's state grid.

    3Who was the former CEO of Snam involved in the acquisition?

    The former CEO of Snam who signed the acquisition deal was Stefano Venier.

    4What is the current status of the acquisition?

    The acquisition, originally expected to close by the end of September, is now under review and has not been finalized.

    5Did Snam provide any comments on the situation?

    Snam declined to comment on the ongoing situation regarding the acquisition.

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