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AcegasAps and Italgas sign a Memorandum of Understanding for the devolopment of the natural gas activities in the North East

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Trieste - Torino, 24 April 2012 - Acegas-Aps S.p.A. e Italgas S.p.A. (Snam Group) today signed a Memorandum of Understanding aimed at creating a joint venture for the development of the natural gas distribution activities in the provinces of Padova, Pordenone, Trieste and Gorizia.

The deal represents an important opportunity for the development and consolidation of the natural gas distribution activities in the North-East and will allow the optimization of the operating and economic performances of the two partners.

Upon completion of the asset transfer, Acegas-Aps will hold 51% and Italgas 49% of the share capital of the company that will service 470 thousands users located in 76 municipalities of the concession. The MoU defines the mutual commitments aimed at providing stability to the shareholding structure of the joint venture in view of the participation to the gas tenders in the aforementioned territories.

The transaction is expected to close by the end of 2012 and is contingent upon, moreover, the receipt of clearance from the Antitrust Authority as well as the completion of the financing contracts in behalf of the joint venture and the framework agreement.

 

Acegas-Aps is a multi-utility listed on the Milan Stock Exchange, leader in the North East and active in the management and distribution of water, power, gas, in the waste collection and treatment and in the main municipality services, such as public lighting and district heating. Founded in 2003 from the merger of Acegas and Aps, the group operates mainly in the in the territories of Padua and Trieste, where, in relation to the natural gas distribution business it services around 266,000 customers in 13 municipalities.

Italgas is part of the Snam Group, one of the most important companies in Europe for the development and management of integrated gas infrastructures, it is also active in the transport, storage and regasification of natural gas. With a portfolio of more than 1,400 concessions and about 6 million customers served, Italgas is the leading company in Italy in the distribution of gas in local municipalities.

 
 

AcegasAps Press Office
T +39 049 8280.551
 
AcegasAps Investor Relations
T +39 040 7793.368
Snam Press Office
T +39 02 37039310   F +39 02 37039227
 
Snam Investor Relations
T +39 02 37037272   F +39 02 37037803



 

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