Italian natural gas firm Italgas plans to acquire 2i Rete Gas for €5.3B ($5.8B), creating a major European player in gas distribution.
Italgas, an Italian natural gas firm, plans to acquire competitor 2i Rete Gas for €5.3 billion ($5.8 billion), including debt. The deal, with an equity value of €2.06 billion, aims to consolidate Italy's gas distribution sector, creating a major European player. The acquisition will be financed through bridge loans and a subsequent €1 billion rights issue. The transaction is expected to close in the first half of 2025, pending regulatory approvals.
October 05, 2024
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