MILAN (Thomson Financial) - AcegasAps SpA has decided to sell a 49 pct stake
in its Estenergy unit to Ascopiave SpA in a move seen as the first step towards
the creation of a large north-eastern Italian multiutility.
"The agreement reached is not just a good industrial deal for Ascopiave but
is a first and important step in the integration process to create a big
north-east multiutility," Ascopiave CEO and chairman Gildo Salton said.
Other companies interested in buying the stake in Estenergy included E.ON
AG, Enel SpA, Gaz de France and Hera SpA.
The enterprise value of Estenergy is estimated at 86 mln eur.
The deal is expected to be closed before the end of the year.
stephen.jewkes@thomson.com
sj/jlw
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