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Net income from equity investments

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(€ million)

2011

2012

2013

Change

% Change

Equity method valuation effect

45

55

45

(10)

(18.2)

Capital gains from sale of equity investments

4

 

 

 

 

Other net income (expense)

2

 

 

 

 

 

51

55

45

(10)

(18.2)

Net income from equity investments (€45 million) mainly refers to the share of net income for the period of investee companies valued at equity, and refers to associate companies Azienda Energia e Servizi Torino S.p.A. (€36 million), Toscana Energia S.p.A. (€19 million), Gasbridge 1 B.V. and Gasbridge 2 B.V. (€12 million in total). This income was partly offset by lower capital gains from the valuation of Snam’s equity investment in TIGF Holding (€27 million), which was affected by the costs incurred by TIGF Investissements during the acquisition of TIGF S.A. (mainly registration tax).

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