Edison Acquired by Snam for €565 Million
Deal News | Mar 14, 2025 | Legal Community Italy
Snam, an Italian energy infrastructure company, has acquired Edison Stoccaggio, a gas storage firm, for €565 million, renaming it Stogit Adriatica. The acquisition increases Snam's operational storage sites from 9 to 12 and its total natural gas storage capacity to approximately 18 billion cubic meters. The deal was facilitated by legal teams from BonelliErede, Chiomenti, and internal Snam advisors for the acquisition, and Cleary Gottlieb and Gatti Pavesi Bianchi Ludovici for Edison. Regulatory, antitrust, golden power, and administrative profiles were managed by specialized legal teams from both sides.
Sectors
- Energy Infrastructure
- Legal Services
- Natural Gas
Geography
- Italy – Both Snam and Edison, along with the legal firms, are based in Italy and the storage sites are in central-northern Italy.
Industry
- Energy Infrastructure – The acquisition involves gas storage infrastructure, a critical component of energy infrastructure.
- Legal Services – Numerous legal firms were involved in the transaction, providing expertise in various legal aspects like M&A, antitrust, and regulatory matters.
- Natural Gas – The companies involved are operating in the natural gas storage sector.
Financials
- €565 million – The acquisition price for Edison Stoccaggio by Snam.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Edison Stoccaggio | Target Company | Company | Gas storage firm acquired by Snam, previously owned by Edison. |
| Snam | Bidding Company (Buyer) | Company | Italian energy infrastructure company expanding its storage capacity. |
| Edison | Selling Company (Vendor) | Company | Previous owner of Edison Stoccaggio, Italian energy company. |
| BonelliErede | Legal Advisor | Company | Provided legal advice to Snam during the acquisition. |
| Chiomenti | Legal Advisor | Company | Provided legal advice to Snam, focusing on various profiles like corporate and antitrust. |
| Cleary Gottlieb | Legal Advisor | Company | Assisted Edison with M&A and antitrust profiles during the sale. |
| Gatti Pavesi Bianchi Ludovici | Legal Advisor | Company | Provided M&A, tax, and corporate legal services to Edison. |