Green light for waiting integration between Iren and the Vercelli multiutility Atena. The municipal council of Vercelli today approved both the merger between Atena spa and Atena Patrimonio (preparatory to the partnership) and above all the 50 million capital increase, which Iren has already expressed interest in underwriting. Downstream of the operation - which unlocks the risk for the group led by Massimiliano Bianco - Iren will rise from the current 40% to 60% of Atena (the Municipality of Vercelli will drop to 40%), for which an ambitious business plan is envisaged from 150 million with strong commitments on gas tenders and on the environmental supply chain.
Furthermore, Iren will arrive at consolidate a de facto debt-free company, conquering a further slice of the Piedmontese territory functional to create new synergies. In detail, after the city council's go-ahead, a public tender will be called for the rights to the capital increase of 50 million of Athena, a tender for which Iren has already expressed interest and which it will subscribe, rising to 60% of the multi-utility.
