2i Rete Gas S.p.A. and Centria S.r.l., a company belonging to the Estra Group operating in the natural gas distribution sector, have signed today the preliminary agreement for the transfer of the company, to which the same 2i Rete Gas will confer the business branch concerning the distribution of methane gas in the municipalities of Chieuti, Lesina, San Severo, Serracapriola and Torremaggiore (which are part of the ATEM Foggia 1 – North and the subject of the first procedure) and those of Conversano, Putignano, Rutigliano, Triggiano and Valenzano (included in the ATEM Bari 2 – South and covered by the second procedure).
The sale procedures were initiated by 2i Rete Gas S.p.A. on 29 March 2018, in accordance with provision no. 26957 of 05 January 2018, following the conclusion of the proceeding no. C12125 by the AGCM (the Antitrust Authority). Said proceeding authorised the merger consisting of the acquisition of sole control of Nedgia S.p.A (and the subsidiary company Cilento Rete Gas S.r.l.) by 2i Rete Gas S.p.A.
Various entities in the natural gas distribution industry showed their interest for the transaction.
Among the potential buyers deemed suitable by the AGCM, Centria S.r.l., the company of the energy group Estra, was found to be the best bidder in both procedures and was awarded the natural gas distribution business for a total price of 42 million euros (subject to an adjustment), corresponding to 15% more than the regulatory asset base (RAB).
In the coming weeks, the parties will be taking action to enforce the preliminary agreement, also by informing the granting bodies.