Milbank LLP has advised Italgas S.p.A., a leading gas distributor listed on the Milan stock exchange, in connection with signing definitive agreements to acquire a 100% stake in DEPA Infrastructure S.A., a predominant natural gas distribution operator in Greece, for €733 million. Italgas S.p.A. was selected as “Preferred Bidder” in September 2021 following a competitive tender process. The transaction is subject to regulatory approvals and customary closing conditions.
This transaction represents a transformational privatisation in the Greek energy market and further strengthens Milbank LLP’s capabilities in the Greek M&A and infrastructure market.
The Milbank team was led by Global Corporate partner Lisa O’Neill with support from Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, Antitrust partner Alexander Rinne and associates Andrew Reilly, Sarah Ullathorne and Gemma Cullen (Global Corporate), Nils Bremer (Antitrust) and Jacob Panagi (Project, Energy and Infrastructure Finance).
“We are thrilled to have supported Italgas in reaching this important milestone and look forward to advising on further transformational infrastructure deals,” said Ms. O’Neill.
