F2i SGR and Finavias, a vehicle owned by the Dutch asset manager APG and funds managed by Ardian, strengthen their partnership on 2i Rete Gas, Italy’s second largest operator in gas distribution.
2i Rete Gas boasts approximately 4.5 million customers across the country, a turnover of 718 million at the end of 2020, 2 thousand employees and operates in the gas network management, dispatching and marketing. The company became part of F2i SGR’s portfolio in 2009, when the infrastructure fund acquired 64%, currently held by Fund III. An additional 8.1% shares were bought by F2i SGR’s Fund II in 2013. Eight years after the acquisition and following a path of growth that has taken the operator from 3.8 million to approximately 4.5 million customers, the shares will be transferred to APG and Ardian, which will increase their existing 28% stake in the company.