(Alliance News) - Italgas Spa announced on Monday that, in compliance with the AGCM ruling authorizing the acquisition of 2i Rete Gas, the sale of gas distribution activities in the Atem Campobasso and Frosinone 2 areas to the ATI consortium comprising Plures, Estra, and Centria was finalized on May 1.
The transaction involved the transfer of 30,000 active redelivery points (meters), networks, plants, relevant personnel, and net assets functional to the management of the service, which had previously been contributed to a newly formed company. The total consideration amounted to EUR23.5 million, as explained by the company in a statement.
This disposal completes the divestment procedure required by the AGCM ruling.
In total, 247,000 redelivery points relating to gas distribution networks across 100 municipalities in 12 ATEMs have been divested, along with the associated personnel and resources necessary for orderly service management. The total sale price for the divested assets reached EUR253.1 million, representing an average premium of 16% over the RAB (Regulated Asset Base). Price adjustments are expected to be carried out in the coming months.
The companies that acquired the assets subject to the AGCM ruling include the ATI formed by Plures, Estra, and Centria in the ATEMs of Bari 2, Barletta-Andria-Trani, Campobasso, Frosinone 2, Massa-Carrara, Pisa, Teramo, and Viterbo; Ascopiave in the ATEMs of Padova 2 and Padova 3; GP Infrastrutture in ATEM Brescia 5; and Erogasmet in ATEM Roma 5.
Italgas shares are trading flat at EUR10.29.
By Claudia Cavaliere, Alliance News reporter
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