Press Release

Agreement signed for the acquisition of a 51% stake in the company “Alto Sangro Distribuzione Gas” which manages 537 kms of network and around 34 thousand redelivery points

Acea has today signed an agreement with Alma C.I.S. srl and Mediterranea Energia Soc. Cons.a.r.l. to acquire 51% of the equity interest they hold in the company Alto Sangro Distribuzione Gas srl, which operates in the distribution of methane gas. The two selling companies will retain a 49% stake in the company’s quota capital and, in synergy with Acea, will participate in the infrastructure’s industrial management.

Alto Sangro Distribuzione Gas is present in twenty-four municipalities within the province of Aquila, mostly forming part of Atem Aquila 3, and owns almost the entire gas distribution infrastructure, comprising 537 Kms of network and around 34 thousand redelivery points (PDR).

Based on 100% of the Company’s enterprise value, the transaction has an economic value of 40 million Euro, while the Operator’s 2019 RAB amounts to around 38 million Euro. Following the operation, the company will be fully consolidated by Acea.

The agreement closing is expected to take place by mid-year.

Stefano Donnarumma, Acea’s Chief Executive Officer, commented: “This transaction is in line with our growth strategy for the gas market, as envisaged in our Business Plan, and allows us to consolidate our presence in Abruzzo, where we already manage a gas distribution network in the Pescara area.”

In this transaction, UBI Corporate & Investment Banking performed the role of financial advisor and the firm Nctw the role of legal advisor.


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