Osborne Clarke advises Egea Acque S.p.A. on the acquisition by Cogesi S.c.r.l. and its consortium partners of the branch of business responsible for managing the integrated water services in the ATO 4 Cuneo area

A preliminary purchase agreement has been entered into between Cogesi S.c. r.l. and its consortium members ALAC S.p.A., SISI S.p.A., and Alpi Acque S.p.A. for the business unit related to the management of the integrated water service (“SII”) in Optimal Territorial Area No. 4 Cuneese, held by Egea Acque S.p.A..

Concurrent with the signing, Cogesi and its consortium members paid Egea Acque S.p.A. the consideration for the takeover.

Cogesi’s formal takeover of the SII will take place in the coming months, subject to the signing of the final deed of purchase for the business unit. The payment of the takeover consideration was partly financed through a loan granted to Cogesi by a pool of banks comprising BCC Banca Iccrea, also acting as lead arranger, Banca Alpi Marittime, Banca d'Alba, Banca Cambiano 1884 S.p.A., UniCredit and ViViBanca S.p.A..

Osborne Clarke advised Egea Acque S.p.A. with a team led by partner Giovanni Penzo, assisted by associate Matteo Tracanella, on all contractual aspects relating to the sale, and with a team led by partner Giorgio Lezzi, assisted by senior associate Federica Fischetti, on all administrative law aspects.

FIVERS advised Cogesi S.c. r.l. and its consortium members.

BonelliErede advised the banks.