2013 Investor Day and site visit: Snam meets the financial community
Norwich/Bacton (UK), 10 October 2013 - Today Snam CEO Carlo Malacarne is meeting the financial community for the 2013 Snam Investor Day, which is taking place in Norwich and Bacton (UK), to share the Company's international development plans with analysts and institutional investors.
During the presentation in Norwich, Snam's top management gave detailed presentations on the rationale behind two major transactions successfully concluded in the past two years: the acquisition of the French transport and storage company TIGF, completed on 30 July 2013 in consortium with Singapore’s sovereign fund GIC (35%) and EDF (20%), and the 2012 acquisition, in joint venture with Fluxys, of a 31.5% stake in Interconnector UK, the undersea pipeline which provides a strategic bi-directional flow between the United Kingdom and Northern Europe's major gas trading hubs.
Carlo Malacarne, Group CEO, commented: “These transactions are testament to the progress we have made in the implementation of our international growth strategy over the past two years. Our aim is to play a leading role in integrating European gas infrastructure and Snam is well-positioned in this constantly evolving market, through its ability to provide integrated services and facilitate cross-border gas exchange between operators.�?
The presentation included financial and operational details of both TIGF and Interconnector UK, as Snam’s top management outlined the Company’s international development strategy to strengthen cross-border interconnections in reverse flow with Northern and Central Europe. This approach will allow Snam to play a key-role in the South-North Corridor, which was recently sanctioned by the EU Energy Commission as a priority for the integration of European gas markets.
Following the presentation, analysts and investors will visit in Bacton the facilities of Interconnector, the 235-km long undersea pipeline linking the UK with the Zeebrugge gas hub in Belgium.
A webcast of the presentation to the financial community will be available today on www.snam.it from 4pm CEST.
05 August 2016 - 16:19 CEST