ACEGAS-APS 
By AcegasAps and Italgas sign the framework agreement for the management of gas distribution activities in the North-East of Italy
Trieste, 11 December 2012- AcegasAps and Italgas (Snam group) signed the framework agreement today for the establishment of a joint venture to manage the gas distribution activities in the territories of Padua, Pordenone, Trieste and Gorizia. The agreement is a another step forward with regards to the Memorandum of Understanding signed last April and represents a significant opportunity for both companies to develop and further strengthen their businesses in the North-East of Italy.
According to the agreement, AcegasAps and Italgas will purchase the 20% and 50% respectively of the share capital of Isontina Reti Gas, reaching a 50% stake each in the company (of which AcegasAps is already holding a 30% stake). With a Regulated Asset Base (RAB) is 48 million euro, Isontina Reti Gas operates in the gas distribution sector in Gorizia and a large part of the surrounding area, supplying approximately 60,000 customers and will be the vehicle-company on to which the assets will be conferred. The shareholder structure will consequently be modified (51% AcegasAps, 49% Italgas), as will the company's name and brand, to reflect the geographical areas served.
The conferment will take place as follows:
· AcegasAps will confer the whole gas distribution business unit in Italy which consists of plants and concessions in 13 municipalities in the provinces of Trieste and Padua (the two regional capital cities included), supplying approximately 270,000 users , as well as of capital goods. The conferment will be made in continuity of values
