Press Releases

In the wake of the recent acquisition by F2i and Ardian of the residual 14.8% share that the Enel group held in Enel Rete Gas SpA – Italy’s leading independent operator, second in terms of market share in gas distribution – the latter is changing its name to 2i Rete Gas SpA - Gruppo F2i Reti Italia (with the 2i representing Italian infrastructure). In the last few years, 2iGas has established itself as national champion in the gas-distribution sector, playing a pioneering role in the process of aggregating and concentrating the many fragmented local operators.

Ardian, the premium independent private investment company, announces today it has committed €30 million into F2i Second Fund, a fund operated by Italian infrastructure specialist Fondi Italiani per le Infrastrutture SGR (F2i). The investment bolsters the relationship Ardian (formerly AXA Private Equity) has built with F2i. F2i is a leading Italian operator and has a strong track record of consolidation and development across different Italian infrastructure sectors. Following the success of the inaugural fund, F2i launched the Second Fund in October 2012, raising €575 million at first close. Subsequent commitments from Ardian and other investors have grown the fund to €740 million.

The Board of Directors of Enel Rete Gas SpA, meeting today, unanimously appointed Paola Muratorio as the company’s chairman. Enel Rete Gas is Italy’s leading independent operator in the area of gas distribution. Recently, F2i – Fondi italiani per le infrastrutture – and Ardian (formerly AXA Private Equity) acquired a 14.8% stake in Enel Rete Gas from Enel Distribuzione SpA, giving it virtually complete control of the company.

Ardian has acquired units in the F2i First Fund with a total commitment of €150 million. As part of the transaction, Ardian will also acquire 9.9% of the F2i SGR’s share capital, becoming a Sponsor for F2i. Ardian will also hold a seat on F2i’s board. The transaction today strengthens the collaboration between F2i and Ardian and demonstrates Ardian's ability to offer secondary solutions to global banking institutions.

A framework agreement was reached between F2i – Fondi italiani per le infrastrutture, Ardian and Enel SpA for acquisition of a 14.8 per cent stake in Enel Rete Gas SpA. Following the operation, F2i and Ardian, which already holds 85.1 per cent of the capital of Enel Rete Gas, will hold virtually all of the shares. With the purchase of this residual portion, F2i and Adrian will be able to better deploy their strategy for gas distribution.