Italgas to Buy Minority Stake in Portugal's Gas Distributor Floene in EUR120 Million Deal

02:30 AM EDT, 10/02/2026 (MT Newswires) -- Italgas (IG.MI) will acquire a 22.5% stake in Portuguese gas distributor Floene for an equity value of 120 million euros, according to a Friday release. The Italian gas distributor will purchase Meet Europe Natural Gas, which owns Floene's stake, from Japanese trading company Marubeni Corp. and Japanese gas company Toho Gas Co. The deal remains subject to regulatory approvals and other closing conditions.