MILAN, Jan 19 (Reuters) - Italian multi‑utility firm Hera said on Monday it had agreed to acquire water treatment group Sostelia in a deal worth 138 million euros $161 million) including debt,
Hera Acquires Sostelia for €138 Million to Enhance Water Operations
Hera's Strategic Acquisition of Sostelia
MILAN, Jan 19 (Reuters) - Italian multi‑utility firm Hera said on Monday it had agreed to acquire water treatment group Sostelia in a deal worth 138 million euros $161 million) including debt, boosting its position in the treatment of industrial and civil water.
Financial Impact of the Acquisition
Hera said the acquisition would, once fully integrated, contribute more than 20 million euros to group consolidated earnings before interest, tax, depreciation and amortisation, excluding additional synergies.
Ownership Structure of Sostelia
Sostelia is 65% owned by private equity firm Xenon AIFM through its Xenon Fidec fund, while the remaining 35% is in the hands of entrepreneurs linked to the various companies which are part of the group.
Advisory Role of Rothschild
Rothschild advised Xenon in the transaction. ($1 = 0.8595 euros)
(Reporting by Valentina ZaEditing by Keith Weir)
