Eni enters the Spanish and Portuguese retail markets with the acquisition of Aldro Energìa
On January 22nd, 2021, Eni gas e luce, a wholly owned company of Eni SpA, signed an agreement with the Spanish conglomerate Pitma Group for the acquisition of 100% of the independent energy retailer Aldro Energìa Y Soluciones S.L.U. (“Aldro Energìa”).
Aldro Energìa, based in the Spanish region of Cantabria, operates in the market for the sale of electricity, gas and energy services, boasting a portfolio of 250,000 customers mainly located in Spain and Portugal. The company provides energy to residential customers, small and medium-sized businesses and big companies. The agreement also includes the acquisition of 100% of the back-office company Instalaciones Martìnez Dìaz S.L.U.
Eni gas e luce will actively contribute to the expansion of Aldro Energìa business, with the aim of widening the offering in the areas of energy efficiency, buildings and houses energy upgrading, photovoltaic and e-mobility.
The acquisition of Aldro Energìa represents for Eni gas e luce the debut in the Spanish and Portuguese retail markets and further supports the expansion of the company in Europe, key pillar of the long-term strategy of the group for the development of the gas&power business.
Mediobanca acted as sole financial advisor to Eni, providing support through all the phases of the transaction.
The transaction confirms once again Mediobanca long-term strong relationship with Eni, its deep understanding of the power&supply Iberian market as well as its leadership in the energy sector.