November 7, 2019 / 5:50 PM / a month ago

Italgas expects M&A deal by end of year or Q1 next year: CEO

MILAN (Reuters) - Italy’s biggest gas distributor Italgas (IG.MI) expects to clinch an acquisition by the end of this year or in the first quarter of 2020, Chief Executive Paolo Gallo said on Thursday.

Gallo did not give any further details of the deal.

Speaking to analysts on a third-quarter results call, the CEO said the company would have its offer ready for a tender bid to run a gas distribution concession in the northern city of Turin by early December.

Gallo said the company would also have a bid ready for a concession in Naples by early February when the tender process is expected to kick off.

Reporting by Stephen Jewkes

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