TENP

AcronymDefinition
TENPTrans Europa Naturgas Pipeline (natural gas pipeline)
TENPTelephone EXchange Name Project
TENPTsavo East National Park (Kenya)
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References in periodicals archive ?
Eni, Europe's biggest natural gas seller, holds a 49 per cent stake in the TENP pipeline, which runs from the German-Dutch border to the German-Swiss border, and a 46 per cent stake in Transitgas, which connects with TENP.
The deal involves Enia[euro](tm)s 46% in Transitgas AG, 100% in Eni Gas Transport International (Eni GTI) in Switzerland and its 100% in Eni Gas Transport Deutschland (Eni D) and Eni Gas Transport, as well as 49% in Trans Europa Naturgas Pipeline KG (TENP KG) and 50% in Trans Europa Naturgas Pipeline GmbH in Germany, the vendor said in a press release.
Under the agreed terms, Fluxys will pay CHF974.7m (USD1.08bn/EUR796.2m) for Eni's Transitgas stock and EUR60m (USD81m) for the TENP shares, the vendor said.
Italian energy group Eni (BIT:EBI) is expected to collect up to EUR900m (USD1.3bn) from the divestment of its stakes in the TENP and Transitgas pipelines to Belgian natural gas transport firm Fluxys (EBR:FLUX).
Eni has 49% in TENP, spreading from the German-Dutch border to the German-Swiss border, and 46% in Transitgas, which links with TENP and the network of Italian Snam Rete Gas (BIT:SRG).
Lazard (NYSE:LAZ) and Barclays Capital are counselling Fluxys.Country: , Netherlands, Switzerland, GermanySector: UtilitiesTarget: TENP network, Transitgas networkBuyer: Fluxys SAVendor: Eni SpAType: DivestmentStatus: ExclusivityBuyer advisor: Lazard Ltd, Barclays CapitalComment: Final price expected at up to USD1.3bn.
- FLUXYS IN TALKS TO BUY ENI'S STAKES IN TENP, TRANSITGAS NETWORKS
Belgian natural gas transport firm Fluxys (EBR:FLUX) is negotiating the acquisition of Italian energy group Enia[euro](tm)s (BIT:EBI) stakes in the TENP and Transitgas pipelines in a move to expand its network.
Another two insiders told the agency that Eni has set 15 April as the deadline for interested parties to submit their offers for its Transitgas holding, valued at up to EUR1bn (USD1.4bn), as well as its 49% interest in German TENP.
Belgian gas transport operator Fluxys (EBR:FLUX), together with German private equity firm Allianz Capital Partners, has placed an offer to buy utility Enia[euro](tm)s (BIT:ENI) stakes in gas pipelines TENP and Transitgas.
Eni, holding 49% in TENP and 46% in Transitgas, said in early December it has started the sale of these stakes under an accord with the European Union (EU).
Eni pledged to sell its stakes in the German Tenp gas pipeline and Switzerland's Transitgas, as well as to transfer its stake in Austrian Tag pipeline, transporting gas from Russia to Italy, to an entity owned by the Italian government.