Snam’s planned acquisition of a stake in German gas network operator Open Grid Europe from Abu Dhabi’s Infinity Investments is unlikely to be completed this month, according to reports by Il Sole 24 Ore. The deal, which has been under discussion for several months, was initially scheduled to close within the current month, but sources suggest that delays are now expected to push the completion date further.
The transaction involves Snam, an Italian energy infrastructure company, purchasing a significant share in Open Grid Europe, a key player in the German gas transmission sector. The deal is part of Snam’s broader strategy to expand its footprint in Europe’s energy infrastructure, especially amid ongoing shifts towards more carbon-efficient energy sources.
Details about the reasons for the delay have not been officially disclosed. Market analysts indicate that the postponement could be related to regulatory approvals, due diligence processes, or negotiations surrounding specific terms of the deal. The parties involved have not issued formal statements regarding the timeline, and it remains uncertain when the transaction will ultimately be finalized.
The delay does not seem to affect the strategic importance of the transaction for Snam, which has articulated ongoing interest in strengthening its European infrastructure operations. Investors and industry observers will continue to monitor developments to see when the deal might finally be concluded.