F2i, AXA Pay $1.1B For GDF Suez Italian Gas Grid

Law360, New York (June 6, 2011, 6:20 PM EDT) -- Italian infrastructure fund F2i and AXA Private Equity on Monday announced the €772 million ($1.1 billion) acquisition of natural gas distributor G6 Rete Gas from GDF Suez Energy SpA.

French multinational energy company GDF Suez agreed to sell the G6 business to the funds in order to raise capital and focus on renewable energy development, leaving the consortium in charge of a natural gas grid that includes 15,000 kilometers of network serving about 490 municipalities in Italy, according to the press release.

“This transaction is part...
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