(Teleborsa) – That – multiutility listed on the MTA of the Italian Stock Exchange – signed an agreement with the company REM SpA (private operator controlled by the Di Zio family) for the acquisition of 65% of Deco SpA and, through the latter, 100% of Ecologica Sangro SpA which will be acquired by Deco by the closing date of the transaction. Deco – active in the waste sector in Abruzzo – deals with the design, construction and management of municipal solid waste treatment, disposal and recovery plants and energy recovery plants from renewable sources.
“This acquisition, of significant industrial importance, strengthens e confirms the growth path in the Environment area, strategic sector for the Group – commented Giuseppe Gola, CEO of ACEA – The transaction allows ACEA to further consolidate its already significant presence in central Italy, with the desire to contribute to the development of infrastructures in the treatment of waste”.
The economic value of the transaction, referring to 100% of Deco, in terms of Enterprise Value is 68 million euros. The transaction took place at an EV / EBITDA multiple of 6.2x applied to the company’s 2020 EBITDA of 11 million euros. The provisional price for the acquisition of 65% of Deco is equal to 61.4 million euros. The agreement provides for the possibility for Acea to increase Deco’s 100% stake. Deco will be 100% consolidated by ACEA, with an expected contribution to EBITDA, on an annual basis, of approximately 11 million euros. The closing the agreement is expected by the end of the year.