Pieve di Soligo, Reggio Emilia, Rome – 31 December 2021 – The consortium formed by Ascopiave (58%), ACEA (28%) and Iren (14%) has today signed an agreement with the A2A Group to acquire a number of natural gas distribution concessions from A2A, following its successful bid to purchase the related assets.
Investors
The consortium established by ACEA, Ascopiave and Iren wins bid for gas distribution assets of A2A
The consortium established by ACEA, Ascopiave and Iren wins bid for gas distribution assets of A2A
31 Dec 2021
The assets involved in the transaction include approximately 157 thousand redelivery points (PDR) across 8 Italian regions, forming part of 24 ATEM (minimum concession areas) and consisting of over 2,800 km of network.
The economic value of the transaction in terms of enterprise value, at 30 June 2021, is €126.7m. Expected average annual EBITDA in the period 2022-2024 is approximately €12.8m, whilst the RAB in 2020, in relation to the acquired assets, amounts to €108.9m (centralized RAB equal to € 6.2m included).
The transaction is being funded from operating cash flow and existing credit facilities available to the companies forming part of the consortium.
The transaction is expected to close in the first half of 2022.