Eni unit to enter Iberian energy market through acquisition of Aldro Energía

Eni SpA unit Eni gas e luce SpA entered into an agreement to acquire Aldro Energía Y Soluciones SLU, an energy provider that serves up to 250,000 customers mainly located in Spain and Portugal.

Aldro Energía operates in the sale of electricity, gas and energy services. The transaction includes the acquisition of back-office company Instalaciones Martìnez Dìaz SLU, according to a Jan. 25 news release.

Upon closing, the deal will mark Eni gas e luce's entry into the Iberian energy market. "This acquisition allows Eni gas e luce to expand its presence in the European market, which will be central to the strategy of development of its activities," said Alberto Chiarini, CEO of Eni gas e luce.

The deal is expected to close after receiving the necessary authorizations from the authorities.