Ascopiave S p A : Stipulated agreement on rationalization of gas distribution concessions
November 25, 2022 at 07:53 pm
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Stipulated agreement on rationalization of gas distribution concessions
Pieve di Soligo, Reggio Emilia, - 25 November 2022 - the Ascopiave Group and the IREN Group, shareholders of Romeo Gas S.p.A a company established following the awarding of the tender for the A2A's transfer of concessions in the natural gas distribution service, with a share of 80.3% and 19.7%, respectively, agreed to a modification of the agreements aimed at rationalizing the presence in the Northwest of Ascopiave and its subsidiary Edigas S.p.A., and the exit of IREN from Romeo Gas S.p.A.
Specifically, the new agreement provides for:
the transfer by the Ascopiave Group to the Iren Group of the entire capital of a newly established company by the Ascopiave Group into which will have been previously transferred the business branches related to the management of the concessions of the Savona 1 ATEM and the Vercelli ATEM owned by Edigas S.p.A., a company of the Ascopiave Group, and equipped with approximately 20,000 PDRs;
the sale by the Iren Group in favor of Ascopiave of its 19.7 percent shareholding in Romeo Gas S.p.A. and the waiver by the Iren Group to acquire from Romeo Gas S.p.A. the Piacenza 1 and Pavia 4 business units-includingRetragas-with related 8,700 PDRs,
the sale by Romeo Gas S.p.A. in favor of the Iren Group of the business units related to the management of the concessions of the Parma and Piacenza 2 ATEMs with about 3,000 PDRs.
As a result of the transaction, which is expected to be finalized by January 31, 2023 subject to the fulfilment of certain conditions precedent, the Ascopiave Group will also receive a monetary adjustment estimated at €3.4 million.
ASCOPIAVE S.p.A. published this content on 25 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2022 19:52:02 UTC.
Ascopiave SpA is an Italy-based company engaged in the utilities sector. The Company is primarily active in the distribution and sale of natural gas. Ascopiave SpA is also involved in the sale of electric power, heat management, co-generation and generation of electricity from photovoltaic plants. The Company holds concessions and direct contracts for the management of gas distribution services and it operated of distribution network. The Company operates through numerous direct subsidiaries, including Ascotrade Spa, Edigas Esercizio Distribuzione Gas SpA, Blue Meta SpA, AscoEnergy Srl, Amgas Blu Srl, Pasubio Servizi Srl, Sinergie Italiane Srl, ASM DG Srl, Edigas Due Srl and Etraenergia Srl, among others. On February 10, 2014, Ascopiave SpA acquired a 49% stake in Veritas Energia Srl; as a result of the transaction the Company holds 100% in Veritas Energia Srl. The Company is also active in the integrated water services.
ASCOPIAVE S.P.A. 
