Edison to Sell Edison Stoccaggio for €560 Million

Cleary Gottlieb is representing Edison in the sale of its 100% stake held in Edison Stoccaggio, for a value of about €560 million, in favor of Snam.

The transaction allows Edison to value the asset for up to €630 million—considering a possible earn-out and the payment of the accrued ticking fee.

Edison Stoccaggio operates three natural gas storage facilities—Cellino (TE), Collalto (TV), and San Potito e Cotignola (RA)—with a total capacity of about 1 billion cubic meters per year.

The completion of the transaction is subject to customary conditions precedent, including the Antitrust Authority and the Prime Minister’s Office under FDI regulations.