ADIA exits Germany’s Open Grid Europe: Infinity Investments — a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) — plans to divest its 24.99% stake in Vier Gas Holdings, the owner of German gas transmission operator Open Grid Europe (OGE), according to two separate statements here (pdf) and here (pdf). The move would mark the sovereign wealth fund’s full exit from OGE, one of Germany’s largest gas transmission system operators.

Who’s buying? The transaction — still pending regulatory approvals — will see Italy-listed energy infrastructure firm Snam buy ADIA’s stake in OGE for EUR 920 mn.

Contingent agreement: Snam said it has also struck a share purchase agreement with Fluxys that will see it sell roughly 0.5% of OGE to Belgian natural gas transmission system operator Fluxys, which currently holds a 24.11% stake in the company, bringing both firms to near-equal ownership stakes.

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