Announced
Financials
Sources
Tags
Italy
gas company
Gas Distribution
Friendly
Acquisition
Private
Majority
Pending
Domestic
Single Bidder
Synopsis
Italgas, an Italian company specialised in the distribution of natural gas, agreed to acquire a LPG distribution and sales business from Fiamma, a chemicals company, 2000 for €31.7m. "With this acquisition, we are taking another important step in the direction of the methanization of Sardinia: with Olbia, all the main towns in the region are managed by Medea. It has been a journey that, in few years, has allowed the island to close a historical gap, becoming a model capable of attracting other operators in the sector and reactivating an integrated energy system for the benefit of communities," Paolo Gallo, Italgas CEO.
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