BERLIN (Reuters) – 3i Infrastructure (3IN.L) has exited its joint venture with gas supplier Erogasmet bidding for the Italian gas network of German utility E.ON (EONGn.DE), a source close to the situation told Reuters on Wednesday.“Erogasmet is still there but 3i is no longer with them,” said the source on the sidelines of an infrastructure conference in Berlin. The source spoke on the basis of anonymity on the grounds that details of the process were confidential.
In February, people familiar with the matter told Reuters that 3i Infrastructure and Erogasmet had been selected as favourites to buy E.ON’s Italian gas grid.
E.ON needs to sell the 9,400 kilometres of gas lines in order to reach its target of completing 10 billion euros of divestments by the end of 2010. (Reporting by Greg Roumeliotis; Editing by David Holmes)
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