Press Releases

F2i and IAG, wholly owned subsidiaries of Iride SpA, have signed an agreement that will lead to F2i’s holding an interest in San Giacomo, a newly established company through which IAG and the Fund administered by Vito Gamberale intend to carry out a project to concentrate and develop integrated water services.

F2i is reporting that the ordinary and extraordinary general meetings of shareholders have been held. Among other things, the meetings approved the financial statements as at December 31, 2009, and appointed the new board of directors. Ettore Gotti Tedeschi was named chairman and Vito Gamberale general manager. The subsequent board of directors meeting reviewed the quarterly report and progress in investment activities.

F2i’s board of directors has approved the draft financial statement for the 2009 financial year of SGR, with a net profit of 3.1 million euros. F2i’s managing director, Vito Gamberale, reported that last year was the first and very significant full year for the asset-management company.

F2i, the Italian infrastructure Fund administered by Vito Gamberale, has completed the acquisition of Enel Rete Gas, bringing to term the most significant leveraged buy-out of 2009 in Europe. The consortium formed by F2i and AXA Private Equity named 9 of 11 members of the board of directors. Gianclaudio Neri was named managing director. Enel Rete Gas, with more than 2.1 million customers, is the second-leading gas distributor.

F2i Reti Italia – the corporate vehicle held 75% by F2i and 25% by AXA Private Equity – is acquiring from Enel Distribuzione 80% of Enel Rete Gas SpA, a company active in the natural gas distribution market in Italy.