Edison to acquire a 70% stake in Gaxa from Marguerite and Italgas for $42m.

Edison, an Italian energy operator, agreed to acquire a 70% stake in Gaxa, a company active in the Sardinian retail gas market, from Marguerite and Italgas, a provider of gas distribution services, for $42m. "The presence of Edison within the shareholders’ structure of Gaxa and in the Sardinian energy market is recognition of the value and strategic nature of our 'Sardinia project'. Edison's undisputed expertise in the retail markets will further boost Gaxa's growth and provide a strong incentive to the development of the island's important methanisation plan, in which Italgas continues to invest significant resources to ensure that Sardinian citizens have access to a sustainable energy source," Lorenzo Romeo, Italgas Chief Strategy Officer.