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    Home > Finance > Snam awaits German decision on Open Grid Europe stake by November 17
    Finance

    Snam awaits German decision on Open Grid Europe stake by November 17

    Published by Global Banking & Finance Review®

    Posted on November 5, 2025

    2 min read

    Last updated: January 21, 2026

    Snam awaits German decision on Open Grid Europe stake by November 17 - Finance news and analysis from Global Banking & Finance Review
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    Tags:investmentfinancial marketscorporate finance

    Quick Summary

    Snam expects a decision from Germany on its Open Grid Europe stake by Nov 17. The acquisition faces regulatory challenges due to a Chinese investor.

    Table of Contents

    • Snam's Acquisition Plans and Regulatory Challenges
    • Overview of the Acquisition
    • Financial Performance and Future Projections
    • Core Earnings Growth
    • Impact of Biomethane Business Sale

    Snam Awaits German Approval for Open Grid Europe Stake by Nov. 17

    Snam's Acquisition Plans and Regulatory Challenges

    By Francesca Landini

    Overview of the Acquisition

    MILAN (Reuters) -Snam expects a decision from Germany's economy ministry by November 17 on its planned acquisition of a minority stake in Open Grid Europe, the country's largest independent gas transmission operator, the Italian group's CFO said on Wednesday.

    Financial Performance and Future Projections

    The deal 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.

    Core Earnings Growth

    "We have a long-stop date with our counterpart that ends on Nov. 17. Our expectation is to have an answer by then, one way or the other," CFO Luca Passa told analysts on a post-results call.

    Impact of Biomethane Business Sale

    Snam agreed in April to buy 24.99% of Open Grid Europe, aiming to enter the German gas market. The acquisition was initially expected to close by the end of September but is still awaiting regulatory approval.

    Passa said Snam could sell assets or issue a hybrid bond if the transaction is completed by year-end.

    The state-controlled group has hired Rothschild and BNP Paribas to sell its biomethane business, which could hit the market shortly after year-end.

    "The biomethane business has a value of 560 million euros as of today," Passa said.

    Snam nudged up its 2025 profit guidance after reporting a 6.6% rise in nine-month core earnings.

    Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 2.23 billion euros ($2.6 billion), slightly above the 2.21 billion euro consensus in a Reuters analyst poll.

    Adjusted net income climbed 10% to 1.1 billion euros, in line with expectations.

    The group now sees adjusted core earnings reaching about 2.95 billion euros this year, up from a previous forecast of 2.85 billion euros.

    ($1 = 0.8575 euros)

    (Reporting by Francesca Landini; Editing by Ros Russell and Emelia Sithole-Matarise)

    Key Takeaways

    • •Snam awaits German decision on Open Grid Europe stake by Nov 17.
    • •Regulatory review extended due to Chinese investor concerns.
    • •Snam plans to enter the German gas market with this acquisition.
    • •Potential sale of biomethane business valued at 560 million euros.
    • •Snam reports a 6.6% rise in nine-month core earnings.

    Frequently Asked Questions about Snam awaits German decision on Open Grid Europe stake by November 17

    1What is a minority stake?

    A minority stake refers to owning less than 50% of a company's shares, which does not provide control over the company but allows for participation in its profits.

    2What is EBITDA?

    EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company's overall financial performance.

    3What is a hybrid bond?

    A hybrid bond is a financial instrument that combines features of both debt and equity, offering investors fixed interest payments along with potential equity upside.

    4What is a gas transmission operator?

    A gas transmission operator is a company responsible for the transport of natural gas through pipelines from production sites to consumers.

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