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Italgas: contract signed in Athens for the acquisition of 100% of the Greek company Depa Infrastructure S.A.

Data di pubblicazione:
Athens, 10 December 2021 - Italgas today signed the Sale and Purchase Agreement (SPA) for the acquisition of 100% of DEPA Infrastructure S.A. owned by Hellenic Republic Asset Development Fund S.A. (HRADF) and Hellenic Petroleum S.A. (HELPE), for an equity value of 733 million euros.

The Sale & Purchase Agreement (SPA) was signed by the CEO of Italgas SpA, Mr. Paolo Gallo, and the CEO of Italgas Reti, Mr. Pier Lorenzo Dell'Orco, the CEO of HRADF, Mr. Dimitris Politis, the General Manager of Strategic Planning and Group Development of HELPE, Mr. George Alexopoulos, the Group General Counsel of HELPE, Mr. John Apsouris, and follows the conclusion of the tender for the privatization of DEPA Infrastructure and the identification of Italgas as the preferred bidder for the transaction by HRADF and HELPE on 9 September.

The signing took place in the presence of the Minister of Finance, Mr. Christos Staikouras, the Minister of Development & Investments, Mr. Adonis Georgiadis, the Minister of Energy, Mr. Costas Skrekas, the Chairman of Italgas, Mr. Alberto Dell’Acqua, the Ambassador of Italy, Mrs. Patrizia Falcinelli, the CEO of HCAP, Mr. Gregory D. Dimitriadis, the Managing Director of HELPE, Mr. Andreas Siamishis, the Executive Director of HRADF, Mr. Panagiotis Stampoulidis, the Chairman of DEPA Infrastructure, Mr. Charitonas Kyriazis and the CEO of the company, Mr. Michail Hatzis.

The completion of the acquisition is subject to the fulfilment of certain conditions, such as the approval of the transaction by the Greek supervisory authority RAE and the clearing of the Greek antitrust authority HCC.

DEPA Infrastructure currently owns 51 percent of Thessaloniki - Thessalia Gas Distribution S.A. (EDA Thess), 100 percent of Attiki Natural Gas Distribution Single Member Company S.A. (EDA Attikis) and 100 percent of Public Gas Distribution Networks S.A. (DEDA), the three leading gas distribution players in Greece, which together manage 6,900 kilometers of network and 509,000 redelivery points.

The transaction will be financed entirely by Italgas using committed lines of financing.

Paolo Gallo, CEO of Italgas, commented:

"Today marks the beginning of a new and important phase in the recent history of Italgas. After nearly twenty years, we are returning to operate abroad, and we are doing so in a country like Greece, which has recognized our technical and technological leadership and our role as a strategic partner in effectively tackling the process of phase-out from coal and lignite for the decarbonization of the economy. The expected strong increase in gas demand will be met by an increasingly widespread, smart and flexible distribution network, which will distribute natural gas to a growing number of consumers and will be ready to accept renewable gases such as biomethane and green hydrogen. We are thrilled to share with the Greek government the experience we have gained in our almost two centuries of history and the technological know-how acquired in recent years of great digital transformation".