Hera to acquire the remaining 25% stake in EstEnergy from Ascopiave for €232m.

Hera, a multiutility company, agreed to acquire the remaining 25% stake in EstEnergy, a commercial joint venture energy operator, from Ascopiave, a natural gas distributor, for €232m. “Over five years we have created, along with Ascopiave, the largest energy operator in Northeastern Italy. This far-sighted move towards aggregation was made to develop the economies of scale necessary to improve quality and provide solutions benefiting customers, with the specific features typical of an operator with strongly local roots. With Ascopiave, we have built a solid partnership based on fairness and mutual respect that has led us, despite Covid and the energy crisis, to exceed the objectives we set for ourselves,” Cristian Fabbri, Hera Group Executive Chairman.