GDF SUEZ has closed the sale of G6 Rete Gas to the consortium composed by F2i infrastructure fund, AXA Private Equity and Enel Distribution.

The transaction prices the distribution assets at € 772 million, which amounts to 103% of the 2010 regulated asset base, 9.3 times the Ebitda and 17.5 times the net income. This sale is part of the 6.2 billion euro portfolio optimization announced in August out of the €10 billion euro Group’s program.

Italy is the Group’s third largest country in terms of revenues after France and Belgium, its two domestic markets. The Group already plays a leading role there and intends to position itself among the country’s three leading players. Active across the energy value chain and enjoying a fast-growing customer base, GDF SUEZ is the third largest natural gas operator with over 1.2 million customers, and the fourth largest electrical operator. The Group is also Italy’s number one energy services operator through its subsidiary Cofely. SUEZ ENVIRONNEMENT also has a strong position with more than 2.4 million users of its environmental services

Tags: GDF SUEZ Energy International