It strengthens the growth of Green Network in electricity and gas: after the purchase in November 2017 of the business branches of Tradeinv Gas & Energy and Energrid (with a turnover of 500 million euros) it also reaches Burgo Energy.
Green Network is one of the main operators in the Italian market for the sale of electricity, and is the first and only Italian operator present in the UK market. It was founded in 2003 by Peter Saulli e Sabrina Corbo.
The acquisition concerns the branch of the company which sells electricity and gas to third parties and which records a potential turnover for 2018 which would amount to 250 million euros. while theEBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), an indicator used to analyze the result of different companies operating in the same sector, is expected to be approximately 2 million, result due to the merger in the Green Network Group.
The integration of the sector is functional to obtain synergies and economies of scale also in view of the upcoming liberalization of the market. The agreement will take effect from 28 June 2018, and from that date Burgo Energia will focus onenergy management and on the management of the cogeneration plants of the Borgo Group.
Sabrina Corbo, Vice President of the group, declared: “With this important acquisition, Green Network continues along its development path, as part of a growth project that is taking place both internally and externally. In 2018, we will be able to manage a total volume of energy sold equal to almost 11 TWh, which now makes us firmly one of the top players in the sector".
