Exclusive: Macquarie in exclusive talks to buy Italy's Ital Gas Storage – sources

By Reuters

Australia's Macquarie is in exclusive talks to buy Italy's biggest independent gas storage facility for more than 1 billion euros ($1.2 billion) but will need government clearance before clinching any deal, three sources close to the matter said. Ital Gas Storage, 92.5% owned by Morgan Stanley Infrastructure Partners, will have a capacity of around 1 billion cubic metres (bcm) when fully operational and is part of a sector considered strategic by Rome. Rome is preparing a decree enacting special vetting power to protect strategic assets, including gas storage, from unwanted foreign buyers.

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