Italgas Looks to Close €5 Billion Local Grid Deal in Early 2025

The chief executive of Italgas SpA is confident that a €5 billion ($5.35 billion) acquisition of 2i Rete Gas SpA will be sealed by the first half of next year, a deal which would turn the company into Europe’s biggest gas network operator.

The Italian company is in exclusive talks with 2i Rete Gas, and is expected to file a binding offer for its smaller competitor after the summer, Chief Executive Officer Paolo Gallo said in an interview in Tokyo on Thursday.

Paolo Gallo, CEO of Italgas SpA.

Photographer: Betty Laura Zapata/Bloomberg

“We will have a large operator which is going to be the largest in Europe, that will ...