MILAN (Thomson Financial) - Ascopiave SpA said it has agreed to buy gas
distribution companies Edigas Esercizio Distribuzione Gas Srl and Edigas Due Srl
for a total of 35.9 million euros as part of the Veneto-based utility's
expansion strategy.
The deal, which is subject to clearance by the antitrust authority, will
allow the company to consolidate its presence in the downstream gas market,
double its customer base outside the Veneto region and lay the foundations for
growth in other regions in northern Italy, Ascopiave said.
"Growth through acquisitions is a fundamental option for the growth of our
company," Ascopiave chairman Gildo Salton said in a statement.
He said the deal will allow Ascopiave to consolidate its presence into the
Lombardy region and expand into Piedmont and Liguria.
stephen.jewkes@thomson.com
sj/kf1
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