Published by Global Banking & Finance Review®
Posted on April 10, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleItalgas shareholders approve a $1 billion rights issue to fund the acquisition of 2i Rete Gas, aiming to consolidate the gas distribution sector.
MILAN (Reuters) - Shareholders in Italgas, Europe's biggest gas distributor, approved on Thursday a 1.02-billion-euro ($1 billion) rights issue to fund the acquisition of rival 2i Rete Gas, the company said on Thursday.
In a shareholders' meeting with 79.43% of the share capital represented, more than 99% voted in favour of the capital increase.
Italgas agreed in October to buy 2i Rete Gas for 5.3 billion euros, marking a significant move in the consolidation of the country's gas distribution sector.
The right issue will allow Italgas to limit the increase in net financial debt with the aim to keep the current credit rating, the group said in a statement.
Italgas is rated BBB+ by Fitch and Baa2 by Moody's, according to the company's website.
($1 = 0.9039 euros)
(Reporting by Francesca Landini, editing by Alvise Armellini)
The main topic is Italgas shareholders approving a $1 billion rights issue to fund the acquisition of 2i Rete Gas.
The rights issue is important to fund the acquisition while limiting the increase in net financial debt and maintaining the credit rating.
The acquisition of 2i Rete Gas is valued at 5.3 billion euros.
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