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Italgas agrees to buy 22.5% of Portugal's Floene - Finance news and analysis from Global Banking & Finance Review
Finance

Italgas agrees to buy 22.5% of Portugal's Floene

Published by Global Banking & Finance Review

Posted on October 2, 2026

1 min read

· Last updated: October 2, 2026

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Italgas Agrees to Acquire 22.5% Stake in Portugal’s Floene for €120 Million

Italgas Expands Presence in Portugal with Floene Acquisition

Deal Overview

MILAN, Oct 2 (Reuters) - Europe's largest gas distributor Italgas said on Friday it had agreed to acquire a 22.5% stake in Portuguese gas distribution company Floene from Japan's Marubeni and Toho Gas for around €120 million.

About Floene

• Floene is Portugal's leading gas distribution operator

Transaction Details

• The closing of the transaction is subject to conditions, including regulatory approvals.

Strategic Rationale

• "The transaction would generate significant industrial value, delivering benefits for customers, local communities and all stakeholders, while supporting the long-term development of the gas distribution sector in Portugal," Italgas CEO Paolo Gallo said in the statement.

Advisors

• Rothschild and SocGen advised Italgas on the deal.

Reporting and Editorial Team

(Reporting by Elvira Pollina and Francesca Landini, writing by Alvise Armellini, editing by Giulia Segreti)

Key Takeaways

  • Italgas extends its European expansion into Portugal, aligning with its strategic industrial plan post‑2i Rete Gas acquisition (corriere.it)
  • Floene is Portugal’s largest gas distribution operator, serving over 1.1 million customers via a modern network exceeding 13,800 km, and plays a key role in the country’s energy transition (floene.pt)
  • The transaction underscores Italgas’ intent to foster industrial value and support decarbonisation, particularly through green gas infrastructure and strategic collaborations across Europe (italgas.it)

References

Frequently Asked Questions

Who is acquiring a stake in Floene?
Italgas, Europe's largest gas distributor, has agreed to acquire a 22.5% stake in Floene.
From whom is Italgas buying Floene shares?
Italgas is purchasing the 22.5% stake from Japan's Marubeni and Toho Gas.
How much is Italgas paying for Floene's 22.5% stake?
Italgas is buying the stake for around €120 million.
Is the acquisition subject to any conditions?
Yes, the closing of the transaction is subject to conditions, including regulatory approvals.
Who advised Italgas on the Floene acquisition deal?
Rothschild and SocGen advised Italgas on the transaction.

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