A2A S.p.A. (BIT:A2A) agreed to acquire 90% stake in Electricity distribution activities in some municipalities of Lombardy from e-Distribuzione SpA for ?1.2 billion on March 9, 2024. Upon completion of the transaction, e-distribuzione will retain a 10% stake of NewCo?s capital to support the start-up phase of the company, and which will be subject to a put and call option mechanism that can be triggered starting from the first year from completion of the transaction. The consideration, which will be paid at closing, is subject to a price adjustment mechanism customary for these kinds of transactions.

The transaction is expected to generate a positive effect on the Enel Group?s consolidated net debt in 2024 of about ?1.2 billion and a positive impact on Group reported net income for 2024 of about ?1 billion. The closing of the transaction, is subject to a number of conditions precedent, including Antitrust clearance, the successful completion of the golden power procedure by the Presidency of Italy?s Council of Ministers and the authorization to transfer the electricity distribution service concessions to NewCo. Transaction is expected to occur by December 31, 2024.