TotalErg, a joint venture established in 2010 and 51% controlled by Erg, started from 2012 a rationalization process of your network which includes the closure of Italian stores that are no longer profitable, which went from 3248 at the end of 2012 to 2545 current.
After the expressions of interest in January, the deadline for submission of offers purchase of service stations TotalErg was postponed from 12 to 28 April because of request for additional information received from some of the operators in the race.
According to a note from "Il Sole 24 Ore", the subjects in the running would be API, Glencore, the fund of private equity Terra Firma, Dec and another Chinese fund. The value of the deal was estimated at 700 million.
The CEO of Erg, Luca Bettonte, hopes to reach closing by end of 2017, in order to be able to reinvest the proceeds in the core business and, above all, in thewind power abroad. The completion of the transaction would decree the definitive one exit of ERG from the oil&gas sector, with the simultaneous strengthening of electricity generation from renewables.
