The acquisition enables the Italian company to enter the Iberian energy market
Eni gas e luce, a wholly owned company of Italy’s Eni, has signed an agreement with Grupo Pitma to acquire Spanish energy retailer Aldro Energia.
The acquisition enables Eni’s subsidiary to enter the Iberian energy market.
Aldro Energia is engaged in the sale of electricity, gas and energy services to residential customers, small and medium-sized businesses and big companies.
Based in Torrelavega, in the northern Spanish region of Cantabria, the company currently serves 250,000 customers mainly located in Spain and Portugal.
The deal also includes the purchase of the back-office company Instalaciones Martìnez Dìaz.
However, the financial details of the transaction have not been disclosed by the companies. The completion of the transaction is subject to the receipt of the authorisations by the competent authorities.
Eni gas e luce CEO Alberto Chiarini said: “This acquisition allows Eni gas e luce to expand its presence in the European market, which will be central to the strategy of development of its activities.
“The company aims to increase its portfolio, reaching 11 million customers in 2023 to offer not only gas and electricity but the entire range of services related to home and energy.”
Eni to continue Aldro Energía expansion
Utilising its expertise in the areas of energy efficiency, Eni gas e luce intends to contribute to the expansion of Aldro Energía business.
The entry into the Spanish and Portuguese markets provided by the acquisition is expected to add a key element to Eni gas e luce’s current presence in gas and electricity in Europe.
Employing 1,600 people, the company operates in four European countries. It has a presence in France with Eni Gas & Power France, in Greece with Zenith and in Slovenia with Adriaplin.
It Italy, Eni gas e luce is one of major suppliers of natural gas, serving more than 9 million customers.