AcegasAps and Italgas (Snam group) have signed a framework agreement 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 in the company (of which AcegasAps is already holding a 30% stake). The shareholder structure will consequently be modified (51% AcegasAps, 49% Italgas). Isontina Reti Gas operates in the gas distribution sector in Gorizia, supplying approximately 60,000 customers.
AcegasAps will confer Isontina Reti gas its whole gas distribution business unit in Italy, i.e. concessions in 13 municipalities in the provinces of Trieste and Padua, supplying approximately 270,000 users; Italgas will confer the business unit consisting of 42 municipalities in the provinces of Trieste, Pordenone and Padua, serving approximately 145,000 users.
The conferment operations are expected to be finalised within the first quarter of 2013.
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