(Alliance News) - Edison Rsp Spa and Snam Spa have announced the start of exclusive negotiations for the purchase and sale of 100 percent of Edison Storage.

The exclusivity follows the competitive process launched last October by Edison to enhance the subsidiary's value, the company explained in a note.

Edison Storage contributes to the security of the national energy system through three natural gas storage facilities, which are located in Cellino, Collalto and San Potito and Cotignola and have a total capacity of about 1 billion cubic meters per year.

On Monday, Snam closed 1.1 percent in the red at EUR4.32 per share, while Edison ended down 0.5 percent at EUR1.58 per share.

By Claudia Cavaliere, Alliance News reporter

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