Press releases

This morning in Bologna, the Hera Group, acting through its subsidiary Hera Comm, and Ascopiave signed a deed of transfer from the latter of a 15% shareholding in EstEnergy, for a counter value of 137.5 million euro. EstEnergy is the commercial joint venture established in 2019 that with over one million customers is North-Eastern Italy’s largest energy operator.

This operation results from a partial exercise of the put option held by Ascopiave on its shareholding in the company, as defined in the agreements signed between the parties when the partnership was created. An additional 8% shareholding in EstEnergy was transferred by Ascopiave to Hera Comm on 1 December 2022.

As a result of today’s transaction, the Hera Group’s holding in EstEnergy rises to 75%, while Ascopiave’s falls to 25% of the share capital. The right to sell this shareholding remains unchanged, at the previously defined conditions, and the current governance rights are maintained.

This transaction will allow the Ascopiave Group to improve the sustainability of its asset structure, consistently with the goals in its strategic plan, contributing to the financial coverage of medium-term investments in core and diversification activities.

At the same time, the Hera Group will additionally reinforce its presence in the energy sector, where it is already the third-largest operator in Italy, with 3.8 million customers, to continue generating tangible benefits for customers and the served areas. This transaction, indeed, has made it possible to create new strategic synergies for developing value-added services and working towards decarbonisation and energy efficiency, significantly contributing to achieving the targets set out in Hera’s business plan, also in terms of environmental sustainability.