Lunate’s long-term capital fund will back this move, offering investors strong cash yields and long-term growth potential.

Italy's gas grid operator Snam will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said on Tuesday. The deal is in line with the Italian group's long-term strategy to strengthen its role in Europe and reduce exposure to assets not located along Europe's major energy corridors.

Dubai: The Abu Dhabi based investment firm Lunate has bought a minority stake in ADNOC Gas Pipelines. This equity was earlier held – indirectly – by Snam, the European gas infrastructure operator. The deal will be made through Lunate’s Long-Term Capital Fund I,