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Market Impact: 0.3
Italgas agrees to buy 22.5% of Portugal's Floene
Source: reuters.com
M&A & RestructuringEnergy Markets & PricesInfrastructure & Defense
Italgas agreed to acquire a 22.5% stake in Portuguese gas distributor Floene from Marubeni and Toho Gas for about €120 million. The transaction expands Europe’s largest gas distributor’s exposure to Portugal’s gas-distribution infrastructure, though the minority investment is unlikely to have broad sector-wide market implications.
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