November 26, 2019 / 5:56 PM / 10 days ago

A2A,EPH to present 'serious' bid for Sorgenia by December 15 deadline

MILAN (Reuters) - Italy’s A2A (A2.MI) and Czech utility EPH will submit a binding offer for energy company Sorgenia by the deadline of Dec. 15, A2A’s chief executive said on Tuesday.

“The next stage is Dec. 15, we should be at a decisive moment. And the offer will be serious from the industrial and financial point of view,” CEO Valerio Camerano told reporters.

Some 20 groups filed initial expression of interest in Sorgenia, with suitors including utilities A2A, with EPH, Iren (IREE.MI) and Fund F2i.

A2A is interested in Sorgenia’s 300,000 customers, while EPH has eyed the group’s 3.17 GW power plants, which have been put up for sale by the shareholder banks.

Reporting by Giancarlo Navach, editing by Giulia Segreti

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