Italgas agrees to buy 22.5% of Portugal's Floene

Marubeni

02/10/2026 06:45

MILAN, Oct 2 (Reuters) - Europe's largest gas distributor Italgas said on Friday it had agreed to acquire a 22.5% stake in Portuguese gas distribution company Floene from Japan's Marubeni 8002.T and Toho Gas 9533.T for around €120 million.
Floene is Portugal's leading gas distribution operator 
The closing of the transaction is subject to conditions, including regulatory approvals.
"The transaction would generate significant industrial value, delivering benefits for customers, local communities and all stakeholders, while supporting the long-term development of the gas distribution sector in Portugal," Italgas CEO Paolo Gallo said in the statement.
Rothschild and SocGen advised Italgas on the deal.

 (Reporting by Elvira Pollina and Francesca Landini, writing by Alvise Armellini, editing by Giulia Segreti)
 ((elvira.pollina@thomsonreuters.com))