Snam Says Italgas under Court Administration

An Italian court has notified Italgas, a unit of Italian gas grid operator Snam, that the company would be put under judicial administration for six months, Snam said on Friday.

The statement from Snam cites questions about "contractual relationships with certain suppliers" and the country's anti-mafia regulations as the reasons for placing the company under judicial management, without elaborating.

A collegial management body appointed by the Palermo court will have full powers to carry out all the business activities for Italgas, the statement said.

"Snam is confident in the timely completion of the investigation," the company said, adding it was collaborating with the court.

(Reporting by Giancarlo Navach, writing by Francesca Landini)