Italian fund Vesper joins race to buy Snam biomethane business, sources say
Italian fund Vesper joins race to buy Snam biomethane business, sources say MILAN, Oct 9 (Reuters) - Infrastructure fund Vesper is in the race to buy the biomethane business of Italy's gas grid operator Snam SRG.MI, three people with knowledge of the matter said on Friday.
Other suitors interested in Snam's Bioenerys are infrastructure fund F2i, Italian utility Edison EDNn.MI and Retina, sources previously told Reuters
They said the deal could be worth €400-500 million ($448-560 million)
Snam is expected to decide with whom to hold exclusive talks for the sale as soon as next week, the people added
Snam and Vesper declined to comment
Biomethane can be used for heating, cooking and all the same applications as fossil fuel gas, but since it is derived from organic matter, it is considered renewable and carbon-neutral
($1 = 0.8933 euros)
(Reporting by Francesca Landini and Elvira Pollina; editing by Gavin Jones)
((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))