A2A completes acquisition of Lombardy distribution assets from Enel
30/12/2024 12:17
MILAN, Dec 30 (Reuters) - Italian regional utility A2A
A2.MI has finalised a deal to buy larger peer Enel's ENEI.MI
distribution assets in the northern Italian region of Lombardy,
the two groups said on Monday.
A2A signed a 1.22-billion euro ($1.27 billion) deal with
Enel in March to buy 90% of its unit Duereti, which runs
electricity distribution assets in the Milan and Brescia
provinces.
A2A's regulated asset base (RAB) will rise to 3.4 billion
euros by 2035, the group said in a statement.
"To support the ongoing electrification of consumption and
trends such as the development of artificial intelligence, it is
essential to increase resources allocated to infrastructure,"
its Chief Executive Renato Mazzoncini said.
In a separate statement, Enel confirmed the estimates it
issued in March, which saw a positive impact from the
transaction of about 1.2 billion euros on its 2024 consolidated
net debt and about 1 billion euros on its reported net income.
($1 = 0.9569 euros)
(Reporting by Alessandro Parodi, editing by Gavin Jones and
Gianluca Semeraro)
((Alessandro.Parodi@thomsonreuters.com;))