Acea, Ascopiave and Iren completed the acquisition of gas distribution assets of A2A for €127m.

Acea, one of the most important Italian multi-utility groups, Ascopiave, a natural gas distribution company, and Iren, an electric services company, completed the acquisition of gas distribution assets of A2A, an Italian utility company, for €127m ($143m). The acquired assets are to be transferred by the A2A Group to a new company, whose shares will be acquired by the consortium members in proportion to their respective interests, with the provision that the demerger of the assets of interest to Acea and Iren will take place within 12 months of closing.