A2A has agreed to sell its 91.6% stake in Retragas, a regional natural gas transport company, to Dolomiti Energia at an enterprise value of about €64.4m, the Italian utility said on 16 October. The stake is held 87.27% by A2A and 4.33% by its distribution subsidiary Unareti.
Why Dolomiti Energia is buying Retragas (91.6% stake from A2A and Unareti)
A2A said the sale fits its industrial plan to progressively reduce its presence in gas networks and strengthen electricity distribution, allowing it to concentrate resources on power grids, which it described as a key lever of the energy transition. Dolomiti Energia said the purchase strengthens its gas infrastructure presence in western Trentino and is consistent with its 2030 strategic plan.
Deal terms and financing
The agreement covers 91.6% of Retragas at an enterprise value of about €64.4m. Retragas operates a gas transport network of about 394 km, roughly 350 km of it in the Brescia area of Lombardy and 44 km in Trentino-Alto Adige, carrying more than 390 million cubic metres of gas a year.
Regulatory approvals and timing
Completion is subject to the conditions precedent set out in the agreement, including the Italian government's golden power procedure, and is expected by the end of 2026.
Market context
A2A has been selling gas network assets to fund investment in electricity distribution; in 2025 it completed the sale of gas distribution assets in Lombardy to Ascopiave for €430m.
