ENEL BUYS 98.58% OF THE CAMUZZI GROUP FOR 1.043 BILLION EUROS

Published on Monday, 4 March 2002

The Enel group becomes the second Italian operator in gas distribution and also the second in waste management
Rome, March 4, 2002 – Enel SpA has bought 98.58% of the capital of Camuzzi Gazometri SpA from Mill Hill Investments N.V. or a total of 1.043 billion euro. The sale excludes: the Camuzzi Group's Argentine activities, the Piacenza Football Club, all publishing activities, all telecommunications activities and real estate not related to the gas business. These will remain the property of Mill Hill. The closing of the operation, which supercedes the accord reached in October last year, is expected by the end of May, 2002, given the approval of the relevant authorities. Thanks to this acquisition, Enel consolidates its position as second operator in Italy's gas distribution market, with over 1.7 million clients and more than 3 billion cubic meters of gas distributed. Through this acquisition, which includes the transfer of Aimeri, Enel will also become the second operator in the waste management sector (collection, treatment and disposal of solid urban and industrial waste) with about 14,000 tons of refuse treated, of which 90,000 is urban, and 1.7 million inhabitants served in 375 municipalities. Ruggero Jannuzzelli and Fabrizio Garilli will remain in their respective roles of Honorary Chairman and Chairman of Camuzzi Gazometri SpA, while Ruggero Massimo Jannuzzelli will become Chairman of Plenia Spa. Claudio Calabi will manage the Argentine activities. Lazard & C, ATKearney and Gianni Origoni Grippo & Partners were Enel's advisers in the operation.
Price Sensitive | March, 04 2002

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