Press release

Eni and AcegasAps have executed today an agreement for the take-over of the power business of IRIS – Isontina Reti Integrate e Servizi S.p.A. (“Iris‘), a multiutility company working in the Province of Gorizia.

 

Thanks to this deal, whose “Equity Value‘ is €73 million, Eni and Acegas-Aps (70% and 30%, respectively) will take over – pursuant to satisfaction of the corresponding conditions precedent – the following activities: the sale of natural gas and electricity carried out by ISOGAS, the distribution and sale of electricity to customers (in a protected market system) of the Municipality of Gorizia, public lighting, the distribution of natural gas in some Municipalities of the Province of Gorizia and a total number of some 60 thousand customers in the gas business and more than 20 thousand in the electricity business. The activities have been organized in such a way as to ensure compliance with the regulations in the field.

 

With this deal, Eni and Acegas-Aps strengthen their presence in an important area in the North-East of Italy and renew their ongoing commitment to raising the quality of services provided to customers.

 

Eni and AcegasAps have been supported in the deal by UniCredit Group as their exclusive financial advisor.