Shearman & Sterling is advising Mediobanca as global coordinator and bookrunner in connection with Snam Rete Gas’s €3.5 billion rights issue offering. This is structured as a global offering including a public offering in Italy pursuant to Italian securities laws and an offshore offering to institutional investors pursuant to Regulation S under the US Securities Act of 1933, as amended. The proceeds of the offering will be used to finance the the €4.7 billion acquisition from Eni of 100% of shares of Italgas and Stogit.

Snam Rete Gas is a leader in the transportation and dispatching of natural gas in Italy. Stogit is the leading operator in the Italian natural gas storage business. Italgas is the main natural gas distribution company in Italy.

Shearman & Sterling’s team was led by partner Domenico Fanuele (Rome-M&A), assisted by associate Marzio Ciani (Rome-M&A) and trainee Marco Barbi (Rome-Capital Markets).