Eni SpA (E) has offered the Italian capital's gas grid in its bid to buy the majority stake in Distrigas SA (DIST.BT) that Suez SA (SZE.FR) is selling, Eni Chief Executive Paolo Scaroni said Tuesday.
Scaroni said the grid was worth around EUR1.0 billion and was only part of the assets Eni had offered to buy Distrigas.
Eni last month said it offered upstream and midstream natural gas assets to purchase the Belgium gas supplier, but didn't provide details. Suez is selling its 57.3% stake in Distrigas.
Eni is vying with power companies Electricite de France SA (1024251.FR) and Germany's E.ON AG (EONGY) for the stake Suez is selling as part of its merger with Gaz de France SA (1020848.FR).
"I have the impression we're in the conclusive phase of the bid presentations," Scaroni told reporters, adding he expects the sale to be completed by June.