The Italian energy group ENI enters the Iberian energy market through the acquisition of Aldro Energía. The main company of the Pitma Group, the largest shareholder of Racing.
The transaction was finalized this Monday with the signing of an agreement between ENI Gas y Luz and Grupo Pitma for the acquisition of 100% of Aldro Energía y Soluciones SLU. The company operates in the market for the sale of electricity, gas and energy services to residential customers, small and medium-sized companies and large companies. The Expansión newspaper speaks of more than 200 million euros as a minimum for this operation. The owners of Pitma have assured the fans of their support for Raicng no matter what happens in sports and now they will not have any kind of financial drowning. Last year Aldro Energía invoiced around 600 million euros.
In addition, the agreement also includes the acquisition of 100% of the back office company Instalaciones Martínez Díaz SLU
“This acquisition allows ENI Gas y Luz to expand its presence in the European market, which will be central to the development strategy of its activities. The company aims to increase its portfolio, reaching 11 million customers in 2023 to offer not only gas and electricity but the full range of services related to home and energy”, said Alberto Chiarini, CEO of ENI Gas y Luz.
Aldro Energía, based in Torrelavega, in the northern Spanish region of Cantabria, currently supplies energy to 250,000 customers located mainly in Spain and Portugal, with a significant focus on the small and medium-sized business segment.
ENI aims to actively contribute to the expansion of Aldro Energía's business, also contributing its experience in the areas of energy efficiency and promoting a better use of energy through its energy improvement services for buildings and homes, photovoltaics and e- mobility.
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Thanks to important alliances and strategic acquisitions, Eni can offer its customers a wide range of products and services that go beyond the supply of gas and electricity. The company's goal is to provide highly professional and sustainable solutions to contribute to the energy transition.
The debut in the Spanish and Portuguese markets therefore adds an important element to ENI's current presence in gas and electricity in Europe. Through its subsidiaries, the company already operates in France with Eni Gas & Power France, in Greece with Zenith and in Slovenia with Adriaplin.
The transaction will be completed once the relevant authorities receive the authorizations.
From Aldro Energía they congratulate themselves for the operation. The current team that runs the company will continue to lead it. “This association will provide us with a series of tools that we did not have access to until now: natural gas production at source, our own renewable generation, financial capacity and a market penetration force, which together with the commercial network, will mark a before and after in the energy market of our country”, assures the management of Aldro to its sales network.
In this way, ENI joins other foreign and national oil companies that have opted for the electricity and gas business in Spain. Thus, in Spain they are already marketing Total gas (after acquiring the domestic network of EDP), Repsol, BP, DISA, the Portuguese company Galp. and now, the Italian ENI. Oil enters fully into the electricity and gas market and they put electric companies on notice.