Thyssengas may receive bid from Snam
Snam [SRG:IM], the Italian gas distributor, could make a bid for Macquarie-owned German gas utility, Thyssengas, Italian language daily Il Sole 24 Ore reported.
The article cited financial rumours claiming that Snam could join the auction for the utility.
The report said that probable high levels of competition are likely to make Snam an outsider in the bid, as the asset is likely to become too expensive. Snam also has other European targets available, it added.
The item noted bidders are believed to include infrastructure funds First State Investments and Borealis Infrastructure, as well as industrial bidders such as Luxembourg-based Enovos International, Belgian utility group Fluxys and German utilities.
The report said that non-binding offers are expected at the beginning of April.
Thyssengas could be worth EUR 500m-EUR 550m inclusive of debt, it added.
Il Sole 24 Ore