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Acegas Aps SpA and Snam SpA's Italgas Sign Framework Agreement

Tuesday, 11 Dec 2012 11:52am EST 

Acegas Aps SpA announced that it has signed with Snam SpA's Italgas the framework agreement on December 11, 2012 for the establishment of a joint venture to manage the gas distribution activities in the territories of Padua, Pordenone, Trieste and Gorizia. According to the agreement, AcegasAps and Italgas will purchase the 20% and 50% respectively of the share capital of Isontina Reti Gas, reaching a 50% stake each its share capital (of which AcegasAps is already holding a 30% stake). With a Regulated Asset Base (RAB) is EUR 48 million, Isontina Reti Gas operates in the gas distribution sector in Gorizia supplying approximately 60,000 customers and will be the vehicle-company on to which the assets will be conferred. The shareholder structure will consequently be modified (51% AcegasAps, 49% Italgas), as will a company‚Äôs name and brand, to reflect the geographical areas served. 

Company Quote

30 Oct 2014