Energit is headquartered in Cagliari. Its strengths lie in the company's pronounced technological base and dynamic growth which have enabled it to secure a leading position in the Italian small-business segment and establish a 25,000-strong customer base.
The takeover comprises 85% of Energit's share base, of which 51% is attributable to Atel Energia S.r.l. and 34% to Azienda Energetica S.p.A. – Etschwerke AG.
The takeover of the 51% stake in Energit marks Atel Energia S.r.l.'s first foray into the small, professional user segment. With sales of 10.4 billion kWh and revenue of over EUR 900 million, Atel is a major producer and supplier in the Italian electricity market. Atel Energia was founded during the liberalization of the Italian market in 1999 as a subsidiary of the leading Swiss energy provider Atel, which operates Europe wide. The company's portfolio includes eight thermal power plants and three hydroelectric plants that together generate an installed output of over 1,700 MW.
Italy is a key market for Atel, which now commands a 7% market share. This is equivalent to a volume of 22 million KWh and comprises the sales of Atel Energia S.r.l. as well as imports. Antonio Taormina, Member of the Atel Group Executive Board and Chairman of Atel Energia S.r.l. commented on the transaction: "Our success is attributable above all to Atel's reputation as a major and trusted supplier to numerous companies and purchasing consortia. Taking over a company that is already well established in the SME segment will enable us to take full advantage of the opportunities offered by the liberalization of the Italian market."
Piero Manzoni, Chief Executive Officer of Atel Energia S.r.l., echoes this view: "The synergies derived from pooling Energit's commercial strength with the importance and industry capability of Atel Energia S.r.l. as well as its partner Azienda Energetica S.p.A. – Etschwerke AG will put our common goal of achieving 100,000 business clients by the end of 2010 well within our grasp."
Aare-Tessin Ltd. for Electricity Corporate Communications