Italgas S.p.A.
- Client:Italgas S.p.A.
- Transaction:
M&A - Date:August 2022
- Sector:
Utilities and Infrastructure, Energy
Italgas S.p.A.
- Deal description:
Vitale advised Italgas S.p.A. ('Italgas') in the signing of an agreement for the acquisition from the Fiamma 2000 Group of the LPG distribution and sales activities.
On 2 August 2022, Italgas signed a binding agreement for the acquisition from Fiamma 2000 Group of the LPG distribution and sales business, with related networks and plants, managed in 12 municipalities in Sardinia.
The distribution network covered by the agreement, currently operated by Sarda Reti Gas (Fiamma Group) extends over a total of more than 430 kilometers and serves 12,000 customers in the municipalities of Olbia (Basin 5), Valledoria (3), Buddusò (10), Budoni (11), Sedilo (13), Genoni (17), Terralba (19) Simala (20), Arbus (24), Mandas and Siurgus Donigala (26), Santadi (35).
The enterprise value of the transaction (on a debt-free/cash-free basis) is 31.7 million euros.
The Italgas Group is thus extending its presence in most of the 38 basins into which the island is divided and is preparing to convert the acquired networks to natural gas, as part of the broader project to build cutting-edge gas infrastructure to serve the region.
Vitale acted as financial advisor to Italgas S.p.A.
- Deal value:
€32m