Italy clears VTTI's acquisition of 70% stake in Adriatic LNG, sources say
MILAN, Aug 6 (Reuters) -Italy won't use special powers designed to shield assets deemed as strategic for the country in relation to Vitol-backed VTTI's acquisitionof Adriatic LNG, Italy's biggest liquefied gas terminal, two sources with knowledge of the matter said.
The sources on Tuesday said Italy had cleared the path for the deal to go through by deciding not to use its 'golden powers' which allow the state to set conditions for a deal or block it altogether.
Earlier this year ExxonMobil XOM.N and QatarEnergy agreed to sell their stakes in the Adriatic LNG terminal, with VTTI getting a 70% stake and Italian gas grid operator Snam SRG.MI the remaining 30%.
Reporting by Francesca Landini in Milan and Angelo Amante in Rome; Editing by Valentina Za
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