2i Rete Gas SpA, the second largest operator at a national level in the gas distribution sector, with almost 4.4 million customers managed on more than 66,000 km of network and over 2,100 municipalities served, has signed an agreement with Edison SpA of the EDF group, for the purchase and sale of 100% of the share capital of Infrastructure Distribuzione Gas SpA, a group company active in Italy in the same segment of the energy supply chain, as part of Edison SpA’s disengagement from activities considered non-core.
The transaction will allow 2i Rete Gas to strengthen its presence in complementary regions with its own areas of operation and to obtain significant economies of scale and density, applying best practices and at the same time enhancing the resources of the target company.
These results, which will benefit users, grantors and stakeholders, proceed the expected effects of the tenders.
The operation is therefore in line with the growth strategy of 2i Rete Gas, implemented through integration processes (the Italian network of the German group EON, of G6 Rete Gas of the French group Engie, of Nedgia of the Spanish group Naturgy, in addition to the distribution network of Enel) constantly focused on guaranteeing service quality, continuously better safety standards, a high level of technological innovation for a new energy model that reduces environmental impact and continues to efficiently guarantee the satisfaction of the energy needs of the country.
The transaction will also allow 2i Rete Gas, which has as shareholders F2i Fondi Italiani per le Infrastructure, the Dutch pension fund APG and Ardian Investment, to consider with even greater interest the Atem tenders where the target operates.
The assets involved in the transaction include 58 municipalities under concession with approximately 152,000 customers and a distribution network extending approximately 2,700 kilometers.
The completion of the transaction, for a total value of 150 million euros, is expected to be within the first four months of 2021, subject to obtaining approval from the Antitrust Authority.