<div id="readability-page-1"><div><p>The decision to cancel the planned purchase of a stake in Open Grid Europe (Oge), the German gas transmission network, was made by the potential buyers--Italy's Snam and indirect shareholder State Grid--as well as the prospective seller, Adia.</p><p> This was announced by the German Economy Ministry.</p><p> In April, Snam had agreed to acquire a 24.99% stake in Vier Gas Holding, the owner of Oge, from an Adia division based in Abu Dhabi. The deal was called off a week ago following a prolonged review by Berlin.</p><p> Sources told Reuters that Germany had concerns about the involvement of China, as State Grid--the indirect shareholder of Snam--is Chinese-owned, in what could have become a transaction involving a key part of the country's critical energy infrastructure.</p><p> &#34;Foreign trade regulations allow for the review of investments by non-EU entities,&#34; the German Economy Ministry stated.</p><p> &#34;Accordingly, in this case, the review focused exclusively on the planned indirect investment by the Chinese state-owned group State Grid Corporation of China, which holds an indirect stake in the Italian company Snam,&#34; the ministry added.</p><p>(Translated by Claudio Leonel Piacquadio, editing by Stefano Bernabei)</p><br/></div></div>

<p>Snam and Adia have canceled the acquisition of a 24.99% stake in Open Grid Europe (Oge) due to concerns from the German Economy Ministry about Chinese involvement. The review focused on the indirect investment by the Chinese state-owned State Grid Corporation of China, which holds a stake in Snam. The decision followed a prolonged review by Berlin.</p>

Snam and Adia Cancel Acquisition of Stake in Oge, Says German Economy Ministry