June 17, 2019 / 6:39 PM / a month ago

Italian utilities Hera, Ascopiave agree energy partnership

MILAN (Reuters) - Italian utility Ascopiave said on Monday it had agreed with larger peer Hera to set up a joint venture for its retail gas and power clients in the north-east of the country worth 864.5 million euros ($970 million).

In a joint statement, the two utilities said Hera would have 52% of the joint venture which will be called EstEnergy.

The deal, when completed, will also see Ascopiave buy gas distribution assets from Hera.

Reporting by Stephen Jewkes, editing by Giulio Piovaccari

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