Following the approval of the relevant authorities, Galp Energia concluded today the acquisition, from Eni, S.p.A, of 21.9% in Setgás and of 10.6% in Lusitaniagás. Galp Energia will hold a stake of 66.9% and 96.3% in the regulated natural gas distribution companies Setgás and Lusitaniagás, respectively. This acquisition amounted to €40.5 million.
In Portugal the natural gas distribution activity is a regulated business and Galp Energia holds stakes in nine distribution companies. In 2011, those companies distributed 1.5 billion cubic meters of natural gas and the distribution network had an extension of 11,655 km.
Source: Galp Energia, SGPS, S.A.