Iren to acquire an 80% stake in Alegas for $18m.

Iren, a multi-service Italian utilities holding company, agreed to acquire an 80% stake in Alegas, a firm that operates in the sale of gas and electricity, for $18m. "The operation is part of a plan for the progressive strengthening and consolidation of the Group as a strategic and development partner also in southern Piedmont by expanding the range of services offered to citizens in the Province of Alessandria. The territorial approach of the Iren Group, highlighted in the latest industrial plan, will therefore be extended to Alessandria, increasing the proximity between Iren and the citizens also through the future opening of physical stores," Renato Boero, Iren President.