Iren Mercato SpA, a subsidiary of Iren Group, has completed the acquisition of 100% of the share capital of Sidiren Srl, a newly established company to which the business branch was conferred by Sidigas.com Srl, operating in the sale of natural gas.
Investors
Iren Mercato S.p.A.: completed the purchase of Sidiren S.r.l. with 52,000 gas customers
Iren Mercato S.p.A.: completed the purchase of Sidiren S.r.l. with 52,000 gas customers
16 Jul 2021
Sidiren has a portfolio of approximately 52,000 gas customers, of which roughly 95% are domestic, distributed in 78 municipalities mainly in the Province of Avellino. The acquisition will allow Iren Group to increase its customer portfolio, strengthening its presence in Campania and enhancing commercial development in Central and Southern Italy.
Sidiren reported a normalized 2020 EBITDA of approximately 3.8 million euros, calculated taking into account the distorting effects deriving from intercompany items and extraordinary costs; this result will be further developed thanks to commercial campaigns and integration with Iren Mercato's customer base.
The Chairman of Iren Renato Boero and the Chief Executive Officer Gianni Vittorio Armani jointly declared: "This new acquisition represents a further step in the important path of external growth carried out in recent years and allows the Group both to expand its customer base in new territories, in line with Iren's national strategy, and to expand its activities and best practices in new areas of the Country."