UNQUOTE

3i-led consortium favourite bidder for E.ON Italian gas grid

  • Francinia Protti-Alvarez
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According to reports, a 3i-led consortium, which includes Italian gas supplier Erogasmet, has been selected by E.ON for the acquisition of its Italian gas grid; the deal has been estimated at over €300m.

3i declined to comment.

Trade buyer Snam Rete Gas as well as a consortium comprising Italian infrastructure fund F2i and Axa Private Equity were among the original bidders in the race. However, F2i/Axa dropped out and it is understood that Snam is not in a position to outbid the 3i-led consortium.

E.ON needs to off-load 9,400 km of gas lines to reach its €10bn divestment target by the end of the year.

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