Eni has entered an agreement to sell stakes in two gas transport pipelines for €860 million to Belgian company Fluxys G, Reuters reports. As part of the deal, the Italian oil and gas group will receive about €800 million for its stake in the Transitgas pipeline and €60 million for its stake in the TENP pipeline. Subject to approval by the European Commission, the deal is likely to be completed by the end of 2011. Eni’s advisers include Rothschild and Intesa Sanpaolo unit Banca IMI for Transitgas, and Rothschild and UniCredit for TENP, while Fluxys G is being advised by Lazard, Barclays Capital and Banca Leonardo.
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