(Teleborsa) – Italgas was selected as a Preferred Bidder in the race for the acquisition of 100% of Depa Infrastructure, owned by Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum (HELPE).
DEPA Infrastructure holds full or partial control of the three main players of the distribution of gas in Greece: 51% of Thessaloniki – Thessalia Gas Distribution (EDA Thess), 100% of Attiki Natural Gas Distribution Single Member Company (EDA Attikis) and 100% of Public Gas Distribution Networks (DEDA).
“We are the ideal partner to support the Greek government in the development of a key energy infrastructure that will allow the country to rapidly proceed along the path of decarbonisation of the economy”, said the CEO of Italgas. Paolo Gallo, explaining “thanks to a new generation of digital native networks – extended, flexible and smart – we will support the gradual abandonment of coal and lignite with natural gas, at the same time promoting the energy transition towards renewable sources such as
biomethane, e-gas and green hydrogen “.
The President of Italgas, Alberto Dell’Acqua, said he was “proud of the result achieved, which rewards the Italian ability to do business, as well as the technical and technological leadership of Italgas”.
The corresponding agreed is equal to 733 million euros. The transaction will be financed entirely by Italgas using committed credit lines. The closing of the transaction is expected by the end of the year, once the necessary authorizations have been obtained
(including that of the antitrust authority).
Italgas was assisted by JP Morgan as financial advisor and sole grantor of the loan, by Milbank and Karatzas and Partners as legal advisors, by Grant Thornton as regulatory advisor and by Mazars for tax and accounting aspects.