Eni agrees to sell Snam 49.9% stake in Algeria gas pipelines for 385 million euros By Reuters

© Reuters. FILE PHOTO: Eni’s emblem is seen in entrance of its headquarters in San Donato Milanese, close to Milan, Italy, April 27, 2016. REUTERS/Stefano Rellandini/File Photograph

MILAN (Reuters) – Italian power group Eni has agreed to promote fuel group Snam 49.9% of its stake in strategic pipelines carrying Algerian fuel into Italy for 385 million euros ($436 million), the 2 corporations stated on Saturday.

The pipelines might be collectively managed by the 2 corporations, they stated.

($1 = 0.8836 euros)

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