Gas Natural to Sell Italian Operations for EUR759 Million

By Max Bernhard Features Dow Jones Newswires

Gas Natural SDG SA (GAS.MC) said Friday that it plans to sell its Italian operations for 759 million euros ($899.6 million) to Italian energy operators 2i Rete Gas SpA and Edison SpA (EDNR.MI).

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The Spanish energy company said it would sell its Italian subsidiaries Nedgia SpA and Gas Natural Italia SpA to 2i Rete Gas, and its subsidiary Gas Natural Vendita Italia SpA to Edison in a deal with an enterprise value of EUR1.02 billion.

The transactions are scheduled to be completed between December and March 2018, the company said.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

October 13, 2017 13:00 ET (17:00 GMT)