(Alliance News) - Following the non-binding offer submitted to purchase the entire share capital of 2i Rete Gas Spa, Italgas announced Monday that the shareholders of 2i Rete Gas -- F2i SGR Spa and Finavias Sàrl -- have granted the company an exclusive period to carry out due diligence aimed at formulating a binding offer.

In the event of binding agreements, reads the note released by the company, "Italgas will meet the related financing requirements through recourse to a bridge financing, guaranteed by JPMorgan, whose refinancing may take place through a combination of equity, debt or "equity like" instruments, with the aim of maintaining Italgas' current rating profile.

JPMorgan is acting as Financial Advisor and Legance - Avvocati Associati is acting as legal advisor to Italgas.

Italgas shares closed Monday up 1.2 percent at EUR5.39 per share.

By Chiara Bruschi, Alliance News reporter

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