F2i and Finavias have agreed to sell 2i Rete Gas, Italy’s second-largest natural gas distribution operator, to Italgas. F2i currently holds 63.9 percent of 2i Rete Gas, and Finavias, a corporate vehicle owned by APG Asset Management and funds managed by Ardian, holds the remaining 36.1 percent.
This agreement follows an exclusivity negotiation period granted to Italgas by the sellers in May 2023. It assigns 2i Rete Gas an equity value of €2.06 billion ($2.3 billion), as of Dec. 31, 2023.
2i Rete Gas has embarked on a significant growth trajectory under F2i’s leadership and with the support of APG and Ardian, expanding its number of users from 1.9 million to 4.9 million. The company currently manages a network exceeding 72,000 kilometers (44,738 miles), with more than 2,200 concessions operated by a workforce of 2,200 individuals. This expansion was achieved through strategic acquisitions, development of the networks operated and successful participation in the fe
