Advised on Sale of CompanyEnergy & Utilities
Acquired Selected Assets of
Vitale (IMAP Italy) advised Mediterranea Energia Ambiente S.p.A. ("Medea S.p.A.") and Energetica S.p.A. in the signing of an agreement for the entry of Medea S.p.A. into the share capital of Energie Rete Gas, a fully owned subsidiary of Energetica SpA.
On 26 July 2022, Medea, an Italgas Group company, 48.15% owned by the Marguerite II fund and active in gas distribution in Sardinia, signed an investment agreement with Energetica S.p.A. for the entry into the capital of Energie Rete Gas, the gas transmission company of the Energetica Group which manages approximately 142 kilometres of regional methane pipelines.
Entering Energie Rete Gas's share capital is the result a mixed transaction involving the contribution and sale of a business unit that includes the assets and activities managed by Medea in the gas transportation sector in Sardinia. These assets mainly consist of 63 cryogenic liquefied natural gas (LNG) tanks for a total capacity of 2,350 cubic meters and the related equipment serving the distribution networks managed in the Basins under concession.
The transaction will further accelerate Sardinia’s methanization process and, at the same time, will also allow Medea to rationalize the plant equipment managed in Sardinia by separating, also at a corporate level, the natural gas transportation and distribution activities.
Vitale acted as sole financial advisor to Medea S.p.A. and Energetica S.p.A.