MILAN, Sept 22 Italian gas grid company Snam
said on Thursday its bid with Allianz to buy
a 49 percent stake in pipeline company Gas Connect Austria had
been successful, confirming what sources previously told
Snam and Allianz will pay a total of 601 million euros
($675 million) to buy the stake from owner OMV,
Austria's leading oil and gas group, Snam said.
Allianz and Snam will hold 60 percent and 40 percent,
respectively, of the vehicle that will be used to buy the stake,
The deal is expected to close by the end of the year.
($1 = 0.8909 euros)
(Reporting by Stephen Jewkes and Arno Schuetze; editing by