APG increases stake in Italy’s gas infrastructure

APG increases stake in Italy’s gas infrastructure

Published on: 28 April 2021

APG has increased its stake in 2i Rete Gas thereby contributing to the decarbonization plan of the Italian economy. The company operates in the gas network management, dispatching and marketing.  

 

“We are pleased to continue investing, on behalf of our pension fund clients, in 2i Rete Gas alongside our partners Ardian and F2i,” says Carlo Maddalena, Senior Portfolio Manager of APG. “We look forward to supporting jointly this critical infrastructure which contributes to the decarbonization plan of the Italian economy. 2i Rete Gas will play a key role as enabler for the energy transition towards hydrogen and renewable gases while delivering long-term returns for our pension fund clients.”

 

APG is invested in 2i Rete Gas through a vehicle, called Finavias, where AXA is also shareholder. Finavias goes from owning 28% to 36%. APG’s direct stake in 2i Rete Gas increases from 17% to 22%.

The company boasts approximately 4.5 million customers across the country, a turnover of € 718 million at the end of 2020 and 2.000 employees.