(Finance) – Fenice, a wholly owned subsidiary of Edisonand Citelum (part of the group EDF), a group active in the sector of lighting services to the Public Administration, have signed a binding agreement for the acquisition by Fenice of the entire capital of Citelum Italia. The acquired company is is the second operator in Italy in the public lighting sector, with a market share of 6% and fifth operator in Spain, with a share of 10%. The company’s activities in Italy and Spain include the management of 1,200,000 lighting points, 300 contracts and approximately 600 employees.
The completion of the sale is expected by the second quarter of the year. The acquisition of the Italian and Spanish activities of Citelum “will allow Fenice to expand its offer in the business of energy services for the territory and cities, and to develop important synergies with Edison’s activities dedicated to energy services for the energy transition and the decarbonisation of territories and cities towards the smart cities of the future “, reads a note.
The purchase of Citelum Italia is configured as related party transaction of lesser significance, and as such requested the prior favorable opinion of Edison’s Related Party Transactions Committee. Edison, an Italian company active in the energy sector, is in fact controlled by the French giant EDF.