(Telestock) – Adriatic Electricity Distribution (DEA), an operator listed on Euronext Growth Milan and active in the distribution of electricity and management of public lighting in Central and Northern Italy, won the tender for the identification of the operating partner and contractor of the electricity distribution, gas distribution and public lighting services in five Lombard municipalities, called by Brescia Infrastructuresa company belonging to the Municipality of Brescia.
The operation is part of DEA’s broader strategic project of growth through external lines in order to increase the number of PODs managed and expand its geographical presence. It is configured as purchase of a controlling stake in ASPM Soresina (ASPM)active in the distribution of electricity in the Municipality of Soresina (CR) with approximately 5,020 PODs and in the distribution of methane gas with approximately 4,100 PDRs. The company also manages public lighting for 8,471 light points in the Municipalities of Manerbio (BS), Soresina (CR), Orzinuovi (BS), Robecco D’Oglio (CR), Rivarolo Mantovano (MN).
In the financial year ended December 31, 2023, ASPM achieved a production value equal to 5,171 thousand euros, with a EBITDA of 1,337 thousand euros and a PFN of 2,029 thousand euros.
“With the ASPM operation we are implementing the strategy announced at the IPO, which includes a growth path through external lines in order to reach and exceed the threshold of 100,000 PODs managed – commented the General Manager Massimiliano Riderelli Belli – We believe that the control of ASPM is a very important step in the company’s multi-regional strategy, as it allows us to extend our sphere of operations, beyond the three current regions (Marche, Abruzzo, Liguria), to Lombardy. Our strategic focus remains on electricity distribution. With ASPM we will have a potentially advantageous platform with a view to achieving further aggregations between smaller operators, since the regulation provides particular benefits for aggregators of companies holding fewer than 25,000 PODs”.
THE’transaction amount amounts to approximately 3,738 thousand eurosin exchange for the acquisition by DEA of a share of ASPM’s share capital equal to 80%, through: (i) the payment of an amount equal to approximately 2,288 thousand euros in exchange for the acquisition of a controlling stake in ASPM; (ii) the subscription of a capital increase for the amount of 1,450 thousand euros. Finally, DEA will have the right to the option to purchase the remaining 20% of the share capital at a price of 935 thousand euros by 2032.