ButanGas strengthens its presence in Italy: agreement with AGN ENERGIA for the acquisition of the cylinder branch.

The purchase transaction involves 11,000 tonnes of LPG.

Milan, 12th April 2023 – ButanGas has signed an agreement with AGN ENERGIA for the acquisition of the distribution of LPG in cylinders owned by the company with headquarters in Genoa.

The business unit, which was recently acquired by ButanGas, supplies around 11,000 tonnes of LPG per year to customers mainly in Northern Italy and Sardinia. In addition, an agreement was reached for a swap of small AGN ENERGIA tanks in Sardinia for an equal number of ButanGas tanks in Northern Italy.

As part of the transaction, ButanGas acquires, in addition to the means necessary to move the tanks, a Storage Facility located in Villacidro (SU) of about 13,500 square metres.

The conclusion of the agreement confirms ButanGas’ interest in strengthening and consolidating its presence in LPG distribution within the Italian market.

“The agreement reached with ButanGas, a leading company in the LPG market whose values of seriousness and reliability are in line with those of AGN ENERGIA, is part of a path of growth and development,” says CEO Marco Roggerone. “The sale of the cylinders branch is part of a broader strategy of energy transition where, alongside the consolidation of our position in the LPG sector, with a better focus on small tanks, the development of the gas & power sector and a path of research into innovative solutions for energy saving and efficiency continues.”

“We are very pleased with the agreement reached with AGN ENERGIA, a company with a great history within the LPG market. Furthermore, I would like to emphasise how this transaction was finalised in an atmosphere of great professionalism and mutual trust,” comments Christos Christofides, General Manager of ButanGas and Veroniki Holding, who adds, “with this operation, our Group clearly affirms that its primary business remains LPG, while strengthening its relevance within the Italian territory.”

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ButanGas

ButanGas was founded in Italy in 1948 by Professor Giuseppe Costantino Dragan. Since its early years, the company has been able to carve out an important role for itself in the LPG market, organising distribution throughout the peninsula. ButanGas is a subsidiary of Veroniki Holding, founded in 2010 by Dr. Daniela Veronica Gusa de Dragan as the sole coordinating structure of all the Dragan Group companies. The Group’s core business is LPG distribution in 7 European countries: Italy, Greece, Romania, Germany, Poland, Serbia and Austria. For more information: www.butangas.it

AGN ENERGIA

AGN ENERGIA is a modern energy company founded in 1958, which over the decades has been able to maintain a constant process of growth and innovation, to the point of offering, in addition to LPG, its core business, electricity and natural gas, technical gas, energy efficiency solutions and renewable energy production systems throughout Italy.

AGN ENERGIA is committed to developing a sustainable business model through the right integration of sustainability, innovation and digitalisation. For more information: www.agnenergia.com