MILAN, Feb 28 (Reuters) – Snam, a major European gas
transport group, said it may launch a capital increase to
acquire the TAG gas pipeline, which carries Russian gas into
Italy, from its main shareholder Italian state lender Cassa
Depositi e Prestiti(CDP)
Snam is looking to integrate Europe’s patchwork of gas
grids, in line with long-running government strategy to
transform Italy into a southern European gas hub and help cut
high energy prices. Last year it bought Total’s gas
transport and storage business and is also working on joint
projects with Belgium’s Fluxys.
MILAN, Feb 21 (Reuters) – Italian refiner Saras
said its business should get a boost if its partner Rosneft
goes through with plans to buy part of the oil-trading
operations of U.S. bank Morgan Stanley.
“It’s an important development for Rosneft and a sign of
their more proactive commercial approach. We’ll have to wait
till summer for clarity on how we’ll move together,” Saras
Managing Director Dario Scaffardi said in a conference call on
MILAN, Feb 21 (Reuters) – Italy’s Saras said on
Friday its refining business should get a boost if its partner
Rosneft goes through with plans to buy part of the
oil-trading operations of Morgan Stanley.
Saras, controlled by the Italian Moratti family, runs the
Sarroch refinery in Sardinia. It is partly owned by Rosneft,
Russia’s state-controlled oil giant, with which it has a joint
venture for trading and processing crude oil and selling refined
MILAN, Feb 20 (Reuters) – Royal Dutch Shell has
agreed to sell its Italian retail business to Kuwait Petroleum
International (KPI) in a move that could shake up Italy’s
inefficient petrol distribution network.
Italy has about 24,000 petrol stations dotted across the
country, twice the number in France and almost three times the
number in British.
MILAN, Feb 19 (Reuters) – France’s EDF is seeking
to sell 70 percent of Italian unit Edison’s wind farm operations
as it looks to bring on board a financial partner to help to
fund expansion, three sources close to the matter said on
Edison, Italy’s second-biggest utility with large power
generation and natural gas portfolios, has about 600 megawatts
of wind power capacity, but the Italian market for renewable
energy is fragmented and analysts believe that consolidation by
bigger players is on the cards.
MILAN, Feb 17 (Reuters) – Italian energy company Sorgenia,
controlled by holding company CIR, hopes to strike a
deal soon with lender banks to freeze payments on its debt as it
seeks to turn around its loss-making business.
In recent months creditor banks have cancelled or frozen
credit lines at Sorgenia, which is seeking a six-month freeze on
debt payments to help it address a lack of growth and high
MILAN, Feb 7 (Reuters) – Companies aiming to lower their
energy costs plan to build a liquefied natural gas (LNG)
terminal in northeastern Italy capable of importing 800 million
cubic metres (mcm) of LNG per year.
Metal parts maker SBE Varvit, one of the companies involved,
said the move is aimed at averting job cuts or moving operations
VIENNA/MILAN, Feb 3 (Reuters) – Austria’s Verbund
has rejected its partly owned Sorgenia unit’s call for funds,
jeopardising the chances that talks with creditor banks on a
debt standstill will succeed.
The loss-making Italian energy company, controlled by
holding company CIR, is trying to negotiate freezing
repayments on almost 1.8 billion euros ($2.4 billion) of debt
MILAN, Jan 30 (Reuters) – Italian hearing aids firm Amplifon
is looking to seal acquisitions in Brazil and other
emerging markets this year as it looks to continue expanding
abroad, its chief executive said on Thursday.
“You can expect news this year,” Franco Moscetti told
reporters at a business lunch.
VICENZA, Italy, Jan 23 (Reuters) – Italy’s $8 billion
jewellery industry is drawing interest from Asian and Middle
East investors, keen to exploit Italian style and design as they
battle for market share both at home and abroad, industry
leaders at a major trade fair said.
Once the world’s top exporter of jewellery, Italy now has
fierce competition from India, China and Turkey where costs are
lower and quality is gradually improving to internationally