Finance
Snam to keep stake in France's Terega as it reviews portfolio, CEO says
Published by Global Banking and Finance Review
Posted on November 11, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 11, 2025
2 min readLast updated: January 21, 2026
Snam will retain its stake in Terega during a portfolio review, with plans for a new industrial strategy by March. Regulatory challenges affect its German acquisition.
ROME (Reuters) -Snam will not sell its stake in France's Terega despite an ongoing review of its holdings, the Italian gas transmission operator's chief executive said in an interview published on Tuesday.
Snam holds a 40.5% stake in Terega - France's second-largest gas operator - with other shareholders including Singaporean sovereign wealth fund GIC, French state-owned utility EDF and French bank Credit Agricole.
"I am reviewing the portfolio of companies we invest in. For the time being, we are staying with Terega, which offers excellent dividends," Chief Executive Agostino Scornajenchi told Italian daily Corriere della Sera.
The group is due to present a new industrial plan by March.
Reuters reported last month that Enagas was in talks to buy GIC's stake, a deal which would allow the Spanish group to meet its stated goal of accelerating investments in hydrogen infrastructure.
Scornajenchi also said Snam's planned acquisition of a minority stake in Germany's Open Grid Europe is part of a strategy to connect North Africa and Northern Europe but added it would not wait beyond mid-November for a green light from German authorities on the deal.
The acquisition has been at risk of falling through after the German ministry extended its review and requested documents related to the presence of a Chinese investor in Snam's shareholder base, sources have said.
(Reporting by Giulia Segreti; Editing by Joe Bavier)
A portfolio review is an assessment of an investor's holdings to evaluate performance, risk, and alignment with financial goals. It helps in making informed decisions about buying, holding, or selling investments.
A minority stake refers to owning less than 50% of a company's shares. It allows an investor to have a partial interest in the company without controlling it.
Dividends are payments made by a corporation to its shareholders, typically from profits. They can be issued in cash or additional shares and represent a return on investment.
An industrial plan outlines a company's strategy for growth and development, detailing objectives, resource allocation, and timelines for achieving specific goals.
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