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0 0 4.94486475794437E-05 4.94486475794437E-05 0.000939524304010274 0.000741729713692218 -0.000642832418533471 -0.000197794590318056
Stock impact report

Italgas' main shareholder ready to support acquisition of rival [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
rival 2i Rete Gas and is "willing to evaluate forms of support" for the deal, it said in a statement. Italgas said on Monday it had started exclusive talks to buy 100% of 2i Rete Gas, a step that would consolidate Italy's gas distribution market. "Considering the strategic role of the infrastructure and energy sectors," Cdp Reti looks "favorably on the possibility of the transaction, ... recognizing the potential industrial value," the state-controlled holding company said. It said it was "willing to evaluate forms of support for ... the potential transaction," after gathering further information on the nature of the deal. In announcing the talks, Italgas said it would cover its financing needs through a bridge loan guaranteed by JP Morgan which may be refinanced through equity, debt or "equity-like" tools, with the aim of maintaining its current rating profile. However, the announcement triggered a fall in Italgas' shares on concerns it may resort to a capital increase esti Show less Read more
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