DEPA Infrastructure sold to Italgas for 733 mln euros
Italgas said on Thursday it had concluded the acquisition of Greek gas grid DEPA Infrastructure from Greece’s privatization agency and Hellenic Petroleum.
The agency and Hellenic Petroleum had agreed to sell DEPA Infrastructure for 733 million euros.
DEPA Infrastructure holds stakes in Greece’s three main gas distribution operators, which manage 7,500 kilometers of gas network.
The Italian group, which runs about 74,000 km (46,000 miles) of regulated gas pipelines, clinched the deal last year and said it would invest €8.6 billion to 2028 to modernize the Greek gas grid and complete the upgrade of its Italian network.
“We will put our experience and our technological know-how at the disposal of the country to build an infrastructure of excellence and with it contribute to achieving the coal and lignite phase-out targets set by the government, in line with those of the EU,” Italgas Chief Executive Paolo Gallo said in a statement. [Reuters]
