The sale of the Italian assets of Gas Natural is completed. The Spanish group - reports a note - based on two different agreements sold its activities to 2i Rete Gas and Edison. The first took over Nedgia, which deals with gas transport, for an enterprise value of 727 million euros and the holding company of Gas Natural Italia services. Foro Buonaparte instead bought for an enterprise value of 293 million Gas Natural Commercio Italia, which owns about half a million gas and electricity customers, and the gas contract linked to Azerbaijan for 30 million (of which 20 will be paid in 2021 following the launch of the Tap pipeline).
In all, the sale operation is worth 1,02 billion, of which 759 million of equity value and will yield to Gas Natural a capital gain after taxes of 190 million euros. The closing is expected between December 2017 and March 2018 subject to the go-ahead from the Antitrust and the competent Authorities.
