Italgas has completed the acquisition of 2i Gas network, becoming the first operator in the gas distribution in Europe with 12,9 million customers in Italy and Greece, 154.000 kilometers of network and more than 13 billion cubic meters of gas distributed each year. At Piazza Affari, after the announcement, the stock fell 1,13% to 6,56 euros per share.
Italgas-2i Rete Gas: 5,2 billion euro operation
Italgas has today completed the acquisition of 99,94% of the share capital of 2i Rete Gas from F2i Sgr and Finavias sellers. The deal, announced to the market on October 5, was finalized after obtaining the authorizations from Golden Power, Foreign Subsidies Regulation and from the Competition and Market Authority.
Speaking of figures, the consideration at closing is equal to 2,0719 billion of euros and the net financial debt of 2i Rete Gas at 31 December 2024 amounts to 3,2 billion. Overall, the value of the transaction is 5,2 billion.
2i Rete Gas integration underway
Thus it officially begins the integration of 2i Rete has into the Italgas Group, in line with the Strategic Plan 2024-2030. The initial phase, specifies the company, will focus on'corporate and information systems integration to achieve the first synergies. At the same time, a digitization program of the network and processes, together with the implementation of iAI initiatives aimed at improving performance and quality of service.
CEO Gallo: “It's history unfolding before our eyes”
'The acquisition of 2i Rete Gas It's history unfolding before our eyes', stated in a note the CEO of Italgas, Paolo Gallo.
"A'an operation of extraordinary value for the country, which changes the face of the sector by creating a European champion capable of strengthening energy security and accelerating the achievement of decarbonisation objectives. A few months ahead of schedule compared to what was announced, today for the Italgas group begins a new growth season, which will see us work towards the integration of 2i Rete Gas, seize important industrial synergies, carry out the digital upgrade of the acquired networks and create value for all our stakeholders”, concluded the manager.
