Rome, 31 May 2017 – Acea announced a number of transactions on 22 November 2016. These included signature of a preliminary agreement for the acquisition, from the Veolia Group, of 100% of Idrolatina, which in turn holds a 49% interest in Acqualatina1, for a price of €22m. The remaining 51% of Acqualatina is owned by municipalities in the ATO4 – Southern Lazio concession area.
As noted in the release dated 22 November, the preliminary agreement entered into by Acea in respect of the above acquisition was subject to a number of Conditions Precedent, including approval by the Conference of Mayors representing the ATO4 – “Southern Lazio – Latina” concession area. In determination 5 of April 11, the Mayors have refused to grant such approval, as required by art. 29 of the Agreement awarding the related Integrated Water Service concession.
As a result, the deadline for fulfilment of the Conditions Precedent in the preliminary agreement expired on 30 May, and the agreement is thus automatically terminated and ceases to be effective.
Acea remains committed to growing its business by promoting dialogue with local communities, as usual in accordance with the related regulations.
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