(Finance) – Italgasfollowing a non-binding offer for the entire share capital of 2i Rete Gas, announces that the shareholders F2i SGR and Finavias have granted Italgas a exclusivity period to carry out due diligence aimed at formulating a binding offer for the purchase of 100% of the capital of 2i Rete Gas.
In the event of binding agreements, Italgas will meet the related financial needs by resorting to a “bridge” loan, guaranteed by JP Morgan, the refinancing of which may take place through a combination of equity, debt or “equity like” instruments, with the objective of maintaining Italgas’ current rating profile. The final terms and conditions of this refinancing will be communicated to the market following a positive outcome of the negotiations.
JP Morgan acts as Financial Advisor and Legance – Avvocati Associati acts as legal advisor to Italgas.
Exclusivity to Italgas does not stop the IPO process of 2i Rete Gas
The shareholders of 2i Rete Gas, F2i Sgr (holder of 63.9%) and, through the vehicle Finavias (36.1%), Ardian and APG Asset Management, specified in a note that the exclusivity period granted to Italgas does not interrupts the listing process, approved by the Board of Directors of 2i Rete Gas on 28 February.