Italgas buys indirect 22.5% stake in Portugal's largest gas distributor Floene
What's the deal? ItalgasDealroom has a profile for this one. Try Dealroom → has signed a binding agreement with Marubeni Corporation and Toho Gas Co. Ltd.Dealroom has a profile for this one. Try Dealroom → to acquire 100% of Meet Europe Natural Gas, Lda. The target company holds a 22.5% stake in Floene, Portugal's largest gas distribution operator, giving the Italian group an indirect holding. Terms were not disclosed.
Why now? The transaction fits Italgas's growth-through-acquisitions strategy set out in its 2026-2032 Strategic Plan, announced in June. The deal lets the group take on what it calls a relevant industrial role in Portugal.
Who advised whom? Pérez-LlorcaDealroom has a profile for this one. Try Dealroom → acted as Italgas's Portuguese legal adviser, working alongside Italian firm Legance. Uría Menéndez advised the sellers, Marubeni and Toho Gas.
The signal: The move marks a cross-border push by an Italian utility into the Iberian gas market, part of a broader trend of consolidation among European energy distributors. For Italgas, Portugal becomes a new platform for expansion.
Read more: jornaleconomico.sapo.pt
Image credit: Generated with Gemini
