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MILAN, 25 Jan (Reuters) – Italian energy group Eni has agreed to buy Spanish energy retailer Aldro Energia as part of its plan to increase its portfolio of electricity and gas retail customers in Europe.
The group said on Monday that its gas and electricity unit had purchased the entire Aldro Energía Y Soluciones SLU from Grupo Pithm to gain a foothold in the Iberian market. The deal includes the acquisition of the backoffice company Instalaciones Martìnez Dìaz.
Eni did not provide financial details.
“The company aims to increase its portfolio, reaching 11 million customers by 2023 to offer not only gas and electricity but also a whole range of services related to homes and energy,” said the chief executive of Eni Gas e Luce’s unit, Alberto Chiarini.
Eni, which like other oil and gas groups spends big on the energy transition, has put retail at the heart of its operations and aims to have more than 20 million customers by 2050.
Aldro Energía supplies energy to 250,000 customers primarily in Spain and Portugal, with a focus on small and medium-sized companies.
Eni already operates in the retail market in France, Greece and Slovenia.
Banco Santander advised Grupo Pithm while Mediobanca advised Eni.
Reporting by Stephen Jewkes; Edited by Agnieszka Flak and Edmund Blair