Snam-Allianz consortium wins bid for 49 pct of Gas Connect Austria

September 22, 2016 4:06 PM

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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 Reuters.

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.

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