financetom
Business
financetom
/
Business
/
Italy clears VTTI's acquisition of 70% stake in Adriatic LNG, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italy clears VTTI's acquisition of 70% stake in Adriatic LNG, sources say
Aug 6, 2024 9:54 AM

MILAN, Aug 6 (Reuters) - Italy won't use special powers

designed to shield assets deemed as strategic for the country in

relation to Vitol-backed VTTI's acquisition of Adriatic LNG,

Italy's biggest liquefied gas terminal, two sources with

knowledge of the matter said.

The sources on Tuesday said Italy had cleared the path for

the deal to go through by deciding not to use its 'golden

powers' which allow the state to set conditions for a deal or

block it altogether.

Earlier this year ExxonMobil ( XOM ) and QatarEnergy agreed

to sell their stakes in the Adriatic LNG terminal, with VTTI

getting a 70% stake and Italian gas grid operator Snam

the remaining 30%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved