The Italian Competition Authority exerts its jurisdiction on a concentration between two firms owned by the State and conditionally clears it (CDP / Snam)

The Italian Competition Authority asserts its jurisdiction on a concentration between two firms owned by the State and conditionally clears it (CDP/Snam) By a decision made on 8 August 2008 [1], the Italian Competition Authority has conditionally cleared the Cassa Depositi e Prestiti (CDP) acquisition of a 30% stake minus one share of Snam from Eni. The purpose of the transaction was to carry out a restructuring in the shareholdings of Snam in accordance with the Presidential Decree of 25 May 2012. Snam is a subsidiary of the incumbent energy player Eni and operates in the regulated markets for transport, storage and distribution of natural gas. The Presidential Decree was adopted to give effect to Decree 1/2012 that imposed on Snam the obligation to adopt the proprietary separation

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  • Desogus Law Office (Cagliari)

Quotation

Michele Giannino, The Italian Competition Authority exerts its jurisdiction on a concentration between two firms owned by the State and conditionally clears it (CDP / Snam), 8 August 2012, e-Competitions Bulletin Energy & Mergers, Art. N° 49218

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