|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.42 - 8.55|
|52 Week Range||6.82 - 11.21|
|Beta (5Y Monthly)||0.39|
|PE Ratio (TTM)||13.41|
|Forward Dividend & Yield||0.42 (5.00%)|
|Ex-Dividend Date||Jan 16, 2020|
|1y Target Est||N/A|
MILAN/FRANKFURT, March 26 (Reuters) - After a fortnight living in a mobile home compound built in just three days by his employer, Italian gas company Snam, Guido Debattisti is returning home. The 37-year-old is part of a team of engineers sealed off during two-week shifts to make sure gas taps stay open - and buildings warm - during a coronavirus epidemic that has killed more than 7,000 Italians and is sweeping Europe. "The team working in the dispatching centre - made up of six people for each shift, as well as two colleagues connected remotely via Skype video-conferences - has succeeded in carrying out all activities related to grid control," Debattisti told Reuters, before heading back to his home in nearby Pavia.
MILAN/DUBAI, March 23 (Reuters) - BlackRock Inc has dropped out of the race to become an investor in Abu Dhabi National Oil Co's (ADNOC) natural gas pipeline assets, two sources familiar with the matter said. BlackRock, along with buyout firm KKR & Co, last year bought a 40% stake in ADNOC Oil Pipelines for $4 billion, and was also looking at a deal involving ADNOC's gas pipeline infrastructure, the sources said.
(Bloomberg) -- BlackRock Inc., KKR & Co. and Italian infrastructure operator Snam SpA are among suitors that made initial bids for a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, which could be valued at about $15 billion, people familiar with the matter said.They’re competing with other bidders including Australian fund manager IFM Investors Pty and Ontario Teachers Pension Plan that submitted first-round offers in recent days, according to the people. Global Infrastructure Partners and Singapore sovereign fund GIC Pte have also expressed initial interest in acquiring a stake in the business, the people said, asking not to be identified because the information is private.The Abu Dhabi state energy giant is deciding when to set a timeline for the next round of offers, the people said. Travel restrictions have made in-person meetings and due diligence visits more difficult, and other sale processes have been held up as tightening credit markets hampered bidders’ access to funding.Some bidders are expected to team up as they proceed in the bidding, the people said. Adnoc is seeking to sell as much as 49% of the business through a lease structure, according to the people.No final decisions have been made, and other bidders could still emerge for the assets, the people said. Representatives for Adnoc, BlackRock, GIP, KKR, OTPP and Snam declined to comment. Representatives for GIC and IFM didn’t immediately respond to requests for comment.Abu Dhabi has been opening up the operations of its state-owned oil producer to foreign partners, part of a push to diversify the Gulf emirate’s economy and generate additional sources of funding. Adnoc has listed its fuel retail unit and sold a stake in its $11 billion drilling business to Baker Hughes Co.KKR and BlackRock agreed last year to invest $4 billion in Adnoc’s oil pipeline network, securing two decades of guaranteed returns. GIC also bought a stake in the business later.Shares of Snam were down 5% at 1:25 p.m. Friday in Milan, giving the company a market value of about $14 billion. Italy’s benchmark FTSE MIB Index rose 2.2%. Snam builds and operates gas pipelines in countries including Albania, Austria, China, France, Greece, and the U.K., according to its website.(Updates with GIP response in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of CDP RETI S.p.A. Paris, March 05, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of CDP RETI S.p.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service (Moody's) has today assigned a Baa3 issuer rating to Terega SAS, the immediate parent company of the French gas transmission network and gas storage operator Terega SA. Concurrently, Moody's has assigned a Baa3 rating to the proposed E million senior unsecured notes due [2027-2028] to be issued Terega SAS, the proceeds of which will be used for general corporate purposes, including the funding of future investments and the refinancing of the current financial structure of the issuer. Moody's has also affirmed Terega SA's Baa2 ratings.
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Moody's Investors Service ("Moody's") has today affirmed the Baa2 long-term issuer and senior unsecured ratings of Terega SA ("Terega"). A complete list of affected ratings can be found at the end of this press release. Affirmation of the ratings takes into account Moody's prior expectation of an increase in Terega's leverage following the start of regulation for gas storage in France, in 2018, and that the rating is currently well positioned in the Baa2 category, with headroom against the rating agency's ratio guidance.
MILAN/LONDON/NEW YORK (Reuters) - Italy's Snam is working on a bid for a stake in a $6 billion natural gas pipeline in the United States in what would be the gas group's first foray outside Europe, four sources told Reuters. The Milan-based company, controlled by state lender Cassa Depositi e Prestiti, is carrying out due diligence to buy a 33% stake sold by Energy Transfer LP in its Rover pipeline, one of the sources said. The 713-mile Rover pipeline can carry 3.25 billion cubic feet of gas daily from the Marcellus and Utica shale plays in Appalachia.
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