GDF Suez has sold its Italian natural-gas-distribution network to a private equity consortium, The Wall Street Journal reports. The consortium comprising of Italian investment fund F2i and Axa Infrastructure, part of French insurer AXA’s private-equity unit, will buy G6 Rete Gas for €772 million.
The transaction is expected to be completed by the fourth quarter of 2011. The sale is part of the power and natural gas group’s €20 billion divestiture plan.
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