Ascopiave transfers 15% of EstEnergy shareholding to Hera Group
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Following Ascopiave’s partial exercise of the put option, the Hera Group, through its subsidiary Hera Comm, now holds 75% of EstEnergy, the largest energy operator in North-Eastern Italy
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.
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.
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