Investments and disinvestments

Italgas: acquisition from Veolia of the water concessions business unit in Italy completed. Nepta is the new name of the company that will manage all the Group’s water activities

     Key points of the agreement: 

• The transaction is part of the broader strategy outlined by Italgas which involves strengthening of the Group’s presence in the water sector
• The transaction concerns the purchase of the Veolia Group’s shareholding in the following companies:
• 100% of the share capital of Acqua S.r.l. which in turn directly holds 98,5% of the share capital of Idrosicilia S.p.A. and, indirectly, 75% of the share capital of Siciliacque S.p.A.;
• 100% of Idrolatina S.r.l. which in turn holds approximately 49% of Acqualatina S.p.A.;
• 47.9% of Acqua Campania S.p.A.

Edison signs an agreement with Italgas and Marguerite to acquire the majority of Gaxa and contribute to the development of retail market in Sardinia.

     Key points of the agreement: 

• Edison, Italgas and Marguerite signed a binding agreement under which Edison will acquire a majority stake in Gaxa, a company 51.85% owned by Italgas and 48.15% by Marguerite, active in the Sardinian retail gas market, through the supply of natural gas, LPG and propane-air for civil uses.
• The new shareholding structure of Gaxa will thus be composed of Edison for 70%, Italgas for 15.56% and Marguerite for 14.44%.

Italgas becomes a shareholder of the Californian company Picarro Inc.

     Key points of the agreement: 

• Italgas strengthened its partnership with Picarro Inc. through the acquisition of a minority share of the US company, a leading technology start-up in the field of sensors applied to the monitoring of gas distribution networks, as well as in technologies designed for those sectors requiring extremely sensitive measurements.
• The equity investment was acquired for a cash payment of 15 million dollars.

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

     Key points of the agreement: 

• 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 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.

Italgas: acquisition of 100% of Fratelli Ceresa S.p.A. finalised

     Key points of the agreement: 

• Italgas Group on 9th September 2021 closed the acquisition of 100% of the share capital of Fratelli Ceresa S.p.A., a company specialising in the supply of energy services.
• Fratelli Ceresa S.p.A., founded in 1921 and based in Beinasco (TO), has a significant portfolio of 3,700 customers, in over 800 condominiums, mainly located in the Turin area. It has revenues of around EUR 20 million and EBITDA of around EUR 3.5 million.
• The transaction is based on an enterprise value of EUR 22 million, to be adjusted for the net financial position.
• The acquisition of Fratelli Ceresa S.p.A. takes place through Seaside S.p.A., the Group’s Energy Service Company, and allows to further expand the reference perimeter and the portfolio of activities, as well as to capture important synergies and further opportunities also with reference to the 110% Superbonus.

Preferred Bidder in the tender for the privatization of DEPA Infrastructure S.A.

     Key points of the agreement: 

• Italgas announces that it has been selected as “Preferred Bidder” in the tender process for the acquisition of 100% of the share capital of DEPA Infrastructure S.A., currently owned by the Hellenic Republic Asset Development Fund S.A. (HRADF) and Hellenic Petroleum S.A. (HELPE).

Italgas grows in Campania and Sardinia thanks to an agreement with Conscoop

     Key points of the agreement: 

• Completed the acquisition of Mediterranea Energia’s business unit related to the gas concession in the municipality of Olevano sul Tusciano (SA), in Campania. 
• Agreement to acquire the entire stake in Isgas33, which completed the conversion from LPG to natural gas of the distribution network in the municipalities of Quartu S. Elena, Monserrato, Quartucciu, Settimo S. Pietro and Sinnai in Sardinia.

Acquisition of 15% of Reti Distribuzione

    Key points of the agreement: 

• Acquisition of 15% of the company Reti Distribuzione.
• 49 municipalities for 32,000 redelivery points, mainly distributed in the Canavese and Ivrea area.
• increased equity investment management for 4.56 million euros.

Italgas and A2A finalise agreement on mutual asset sales

    Key points of the agreement:

• Italgas Reti (Italgas Group) sold to A2A Calore & Servizi (A2A Group) all the district heating activities managed in the municipality of Cologno Monzese (Milan).
• Unareti (A2A Group) sold to Italgas Reti the natural gas distribution activities managed in seven municipalities belonging to ATEM Alessandria 4.

Agreement finalised for Marguerite II to become a shareholder in the companies operating in Sardinia

    Key points of the agreement:

• Acquisition by Marguerite II of 48.15% of the share capital of Medea and Gaxa.
• Payment of a total consideration of approximately €25 million and subsequent capital increases totalling approximately €44 million.
• Enterprise value attributed to 100% of the assets at 31.12.2018 was €91.2 million.

Italgas: acquisition of majority stake in Toscana Energia completed

    Key points of the agreement:

• Transfer of 2,897,778 shares, corresponding to 1.98% of the share capital of Toscana Energia.
• The share capital held by Italgas increased from 48.68% to 50.66%.
• Toscana Energia manages around 8,000 kilometres of network with 800,000 users.

Partnership agreement between Italgas and the American company Picarro for the use in Europe of the most advanced technology for monitoring gas networks

     Key points of the agreement:

• The use in Europe of Picarro Surveyor, currently the most advanced technology in the field of gas network monitoring.

Date agreement signed

Closing date

Transactions

Acquisition of 19 concessions in central and southern Italy and Sardinia

 Key points of the agreement:

• For gas distribution.
• More than 50,000 redelivery points concentrated in the Centre-South of the country and in Sardinia.
• Enterprise value EUR 68.6 million.

Completed the acquisition of a controlling stake in EGN (European Gas Network) and 100% of two other local operators

 Key points of the agreement:

• A 60% controlling stake in EGN (“European Gas Network”), which indirectly holds 37 concessions in operation for gas distribution in Sicily, Calabria and Campania for a total of approximately 60,000 PDR.
• 100% of Fontenergia S.r.l., concessionaire of the gas distribution service in Basin 22 of the region of Sardinia, with over 7,000 users served with LPG.

100% of Naturgas S.r.l., concessionaire of the gas distribution service in San Giuseppe Vesuviano (NA), with approximately 2,700 users served.

Developments in the energy efficiency sector following the acquisition of Seaside

 Key points of the agreement:

• One of Italy’s leading Energy Service Companies (ESCo), at the forefront of digital services, thanks to its expertise in Big Data, Business Intelligence and Machine Learning.
• Over 400 customers in Italy in various industries.
• Enterprise value 8.5 million euro.

Date agreement signed

Closing date

Transactions

Italgas: acquired the concession and the gas network of Portopalo di Capo Passero

 Key points of the acquisition:

• Concession and natural gas distribution network serving the municipality of Portopalo di Capo Passero (Siracusa).
• 35 km of network (completed but not operational).
• 1.400 potential customers.
• Enterprise value 2.2 million euro.

Italgas and Hera agree to transfer 100% of Medea S.p.A. to Italgas.

 Key points of the acquisition:

• Concession for distribution and sale in the municipality of Sassari.
• More than 190 km of network (currently powered by LPG).
• 30.000 customers (potential pool).
• Enterprise Value 24.1 million euro.

Italgas acquires 7 gas concessions in Southern Italy from CPL Concordia 

 Key points of the acquisition:

• 7 gas concessions in Southern Italy (some with network under construction), covering a total of 16 municipalities.
• More than 400 km of network (of which 330 already in operation).
• Around 32,000 new customers (potential pool).
• Enterprise Value 13 million euro.

Italgas acquires 100% of Ichnusa Gas S.p.A.

 Key points of the acquisition:

• 12 companies holding concessions for the construction and operation of gas distribution networks in 81 municipalities in Sardinia.
• 2 of the 12 concessions already in operation with customers served by LPG.
• 1.300 km network (including those under construction).
• 150.000 customers (potential pool).
• Enterprise Value 26.2 million euro.

Italgas acquires 12 concessions in Campania and Basilicata from Amalfitana Gas

 Key points of the acquisition:

• 12 concessions in Campania and Basilicata.
• Over 300 km of network.
• More than 22,000 users served.
• Enterprise Value 18.5 million euro.

Italgas acquires 100% of Enerco Distribuzione S.p.A.

 Key points of the acquisition:

• 27 concessions between Padua and Vicenza.
• Over 800km of pipelines.
• Around 30,000 users.
• Enterprise Value 51 million euro.