Iren SpA (BIT:IRE) agreed to acquire the residual water service branch in 31 municipalities from Acque Potabili S.p.A. for €26.5 million on December 6, 2016. The transaction is pursuant to Iren’s plan of rationalization which begun through the acquisition and delisting of Societa Azionaria per la Condotta di Acque Potabili (BIT:ACP) on January 30, 2015 and February 1, 2015 respectively. As at June 30, 2016, Acque Potabili had an EBITDA of €1.7 million. The Board of Directors of IREN S.p.A has approved the acquisition of business branch composed of the integrated water service concessions. Giovanni Vantaggi of Barabino & Partners acted as PR advisor to Iren. Iren SpA (BIT:IRE) completed the acquisition of the residual water service branch in 31 municipalities from Acque Potabili S.p.A. on January 9, 2017. Piero Venturini and Andrea Cazzani of Legance - Avvocati Associati acted as legal advisors for Iren SpA.