It has been signedbinding agreement for the sale of the fuel distribution network of EG Italy to a consortium of national operators composed of Multienergy Pad, Vega Fuels, Oil, Dilella Invest e Jap.
The operation concerns approximately 1.200 points of sale – approximately equal to 6% of the national network – located throughout Italy and mostly under the brand essoThe passage marks a return to Italian hands of a strategic asset until now controlled by foreign capital.
Synergies and development in the energy transition
The project, the members of the consortium underline, aims to generate new synergies for the development of the network, expanding the services offered, from convenience stores to catering, and accelerating initiatives related to energy transition.
A key point of the agreement is the desire not to waste the wealth of know-how and skills of EG Italia, heir since 2018 to the culture of Esso Italiana.
“The acquisition of EG Italia – they declare Augustine Apa ed Enrico Zampedri on behalf of the consortium – allows control of a strategic asset to be returned to private national operators, leaders in their respective territories. This operation, unique in its approach in the history of our sector, demonstrates how new challenges stimulate the creativity and adaptability of our companies, capable of creating an otherwise impossible alliance.
The territorial roots
The consortium is made up of entrepreneurial realities deeply rooted in their respective territories. Multienergy Pad is based in Brescia and is owned by the Zani Ondelli and Petrolini families, Vega Fuels in Mestre under the guidance of the Vianello family, Oil in Naples linked to the Toti family, Dilella Invest in Bari referable to the Dilella family, and finally Jap in Modica, an expression of the Minardo family. The geographical variety of the members reflects the national and widespread nature of the operation, uniting the North, the Centre and the South in a single strategy.
As required by law, the operation will be nnotified and submitted for authorization by the Competition and Market Authority.
The consortium made use of a team of advisors leading firms: Mediobanca and Equita Mid Cap Advisory for financial matters, Gianni & Origoni and Zaglio Orizio Braga e Associati for legal advice, EY-Parthenon for accounting and Pirola Pennuto Zei & Associati for tax matters.
