Snam will buy a strategic stake of approximately 33% in Industrie De Nora to enhance its technological positioning, making it increasingly competitive in new projects for hydrogen development.
The Italian energy infrastructure company will acquire its 33% stake from Blackstone Tactical Opportunities. The purchase is set to be complete in the first quarter of 2021.
Based on the agreements, which will be finalised upon completion of the operation, Snam will be able to appoint three directors of De Nora and will be represented on the newly formed technical and strategic committees, with the possibility of seconding its staff to the company.
Marco Alverà, CEO of Snam, said, “The strategic partnership with an Italian company of excellence, global innovator in sustainable technologies and with important prospects for hydrogen development, is a unique opportunity to strengthen Snam’s role in the energy transition.”
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