(Alliance News) - Hera Spa announced on Tuesday that its subsidiary Inrete Distribuzione Energia and Soelia, a multiservice company wholly owned by the municipality of Argenta, have finalized the transaction that sanctions the sale of Soelia's business unit concerning plants, natural gas distribution networks and related management services.

As of July 1, Inrete Distribuzione Energia will thus take over Soelia's gas distribution service in the municipality of Argenta.

The stipulation follows Inrete Distribuzione Energia's awarding last May 15 of the tender called by Soelia, which led the Hera Group subsidiary to also acquire Soelia's 2.85 percent corporate stake in Sinergas.

"This operation," the statement reads, "further strengthens the presence of the Hera Group within its reference territory, thus guaranteeing to an increasingly large community of citizens the high standards of quality, continuity and safety of the services provided by the multi-utility. In particular, the Group is synergistically consolidating its presence in the Argenta municipal area where it already operates the integrated water service."

Hera's stock closed Tuesday down 3.3 percent at EUR3.31 per share.

By Chiara Bruschi, Alliance News reporter

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