Snam S.p.A., a company engaged in the transportation, storage and regasification of natural gas, through the subsidiary Snam 4 Environment S.r.l., signed an agreement with Femo Gas S.p.A. aimed at the acquisition of a 50% joint control stake in Iniziative Biometano, a company that manages biogas and biomethane plants in Italy.
The transaction is worth approximately €10 million and is expected to close by the end of the year.
The transaction allows Snam to enter the field of biomethane for agricultural production: Iniziative Biomethane owns, through its subsidiaries, five biogas plants already in operation, fed with agricultural biomass, which will be converted into biomethane plants, and is also developing further projects in Italy.
Snam's in-house team was led by general counsel Marco Reggiani and included head of foreign assets legal affairs Gloria Bertini and legal manager Letizia Giampieri.
Nctm Studio Legale assisted Snam S.p.A. with a team led by Raffaele Caldarone, Carlo Grignani and Jacopo Arnaboldi.
The international law firm Gianni, Origoni, Grippo, Cappelli & Partners assisted Femo Gas S.p.A. with a team led by Marco Malipiero, including Giovanna Murador and Ilaria Monorchio.
Nctm Studio Legale Associato published this content on 13 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2020 13:29:09 UTC