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Italgas: completed the acquisition of Enerco Distribuzione S.p.A.

Data di pubblicazione:
Milan, 6 December 2017 - Italgas has today completed the acquisition of 100% of Enerco Distribuzione S.p.A. from H2C S. p. A., upon the fulfilment of the obligations for H2C S.p.A. envisaged in the agreement. The total value of the transaction is EUR 51 million and has been paid in the amount of EUR 38 million per cash and in the amount of EUR 13 million through taking charge of the debts of the Company. Enerco Distribuzione owns 27 concessions in the provinces of Padua and Vicenza, manages a network of more than 800 kilometres of pipelines and serves about 30 thousand users. The completion of the operation, which is in line with the growth strategy set out in the 2017-2023 Business Plan, allows Italgas to strengthen its presence in an area in the North-East of the country considered of great importance for the development of the Group and to put into practice the possible synergies with the assets it already manages in the region.