Snam, ADIA decided to scrap planned OGE stake purchase, German ministry says
21/11/2025 08:30
FRANKFURT, Nov 21 (Reuters) - A decision to scrap a planned stake purchase in German gas transmission grid Open Grid Europe was taken by the prospective buyers, Italy's Snam and indirect shareholder State Grid, as well as would-be seller ADIA, Germany's economy ministry said. Snam SRG.MI in April agreed to buy a 24.99% stake in Open Grid Europe's OGE owner Vier Gas Holding from a division of Abu Dhabi's ADIA, a deal that was scrapped a week ago following a prolonged review by Berlin. Sources had told Reuters that Germany was concerned about China's involvement as the owner of Snam's indirect shareholder State Grid STGRD.UL, in what could have resulted in a deal involving a key part of Germany's critical energy infrastructure. "Foreign trade law allows for the review of investments by non-EU entities," Germany's economy ministry said on Friday. "Accordingly, only the planned indirect investment by the Chinese state-owned group State Grid Corporation of China, which has an indirect stake in the Italian company Snam, was reviewed in this case." (Reporting by Christoph Steitz, Editing by Miranda Murray) ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))