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Italgas: significant strengthening in the water sector thanks to the agreement reached with Veolia for the acquisition of stakes of three companies in the regions of Lazio, Campania and Sicily

Data di pubblicazione:
Milan, June 9, 2023 – Italgas and Veolia signed today the sale and purchase agreement of the stakes held by the Veolia Group in some companies active in the water sector in the regions of Lazio, Campania and Sicily, following the negotiations announced in recent months. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession.

The transaction is part of the broader strategy outlined by Italgas, aiming at strengthening the Group presence in the water sector.

We have taken an important step towards becoming a key player also in the water sector - commented Italgas CEO Paolo Gallo - A strategic objective to which we aim with conviction, in the knowledge that we can create value for the country by borrowing the skills and cutting-edge technologies developed in the gas sector. The digital transformation of networks and sustainable energy efficiency are, in fact, drivers capable of significantly reducing water losses, making the service more efficient and returning wealth to communities and territories".

“Veolia will remain active in the water market through technological services and advanced solutions - commented Emanuela Trentin, CEO Siram (Gruppo Veolia) - also contributing to energy security and decarbonisation to meet the country's significant demand for energy efficiency and for the acceleration in local and decarbonised energy production”.

Specifically, the transaction includes the acquisition by Italgas of the Veolia Group's stakes in the following companies:

  • 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A;
  • 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A;
  • 9% of Acqua Campania S.p.A.
The holding companies Acqua, Idrosicilia and Idrolatina hold the stakes in the operational companies Siciliacque and Acqualatina.


Siciliacque operates under concession for the collection, storage, potabilization and adduction service in the Sicily Region with about 2,000 km of adduction network and, in 2021, had €86 million in revenues. The service covers more than 30% of the regional population.

Acqualatina manages the Integrated Water Service in ATO (Optimal Territorial Area) 4-Lazio Meridionale, which includes 38 municipalities and 550,000 inhabitants. In 2021, it had €138 million in revenues.

Acqua Campania operates in the Acquedotto Campania Occidentale under concession from the Campania Region. The operational activities of the company are the collection, potabilization, adduction and transportation of drinking water serving water distribution companies, for about 4 million inhabitants. In 2021, it had €92 million in revenues.

For the acquisition of the above-mentioned stakes, Italgas will recognize the Veolia Group a total of approximately €115 million (in terms of equity value), partially depending upon certain targets of the operational companies.