An agreement for a recently announced joint venture between Camfin and Gaz de France in the natural gas sector in Italy has been finalized, the companies have revealed.
As a consequence of the joint venture becoming operational, Energie Investimenti SpA has acquired 100% of the two companies’ Italian activities in the natural gas sales sector (Cam Gas SpA, Arcalgas Energie SpA, Italcogim Vendite SpA and respective subsidiaries) as well as 20% of voting rights (equal to 10% of economic interest) in another company that contains the distribution activities of Arcalgas and Italcogim.
Energie Investimenti is the joint venture’s holding company. It is 60% held by Camfin through a wholly owned subsidiary, with the remaining 40% held by Gaz de France.
The natural gas joint venture agreement between Camfin and Gaz de France was first announced in June 2006.