Snam to Spin Off Italgas
29 6월 2016 - 4:46PM
Dow Jones News
By Neanda Salvaterra
MILAN--Italy-based Snam S.p.A, a natural-gas distribution
company, said Wednesday it will spin off its
domestic-gas-distribution arm, Italgas.
Snam will retain a 13.5% stake in the new company, and existing
Snam shareholders will receive a portion of the shares in the new
entity. Snam said the new company will list on the Milan stock
exchange by the end of 2016.
Snam's board has called a shareholders' meeting on Aug. 1 to
approve the transaction.
Write to Neanda Salvaterra at Neanda.Salvaterra@wsj.com
(END) Dow Jones Newswires
June 29, 2016 03:31 ET (07:31 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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