Ireti has successfully completed the acquisition of the remaining 40% interest in Iren Acqua from F2i Sgr, concluding a long-term institutional partnership. The strategic rationale for this 100% consolidation is to fully internalize the management of the Genoa water basin, allowing for the eventual merger of the target into the parent infrastructure division. This corporate rationalization is expected to extract significant operational synergies and eliminate the leakage of dividends to minority shareholders. By gaining full control, the Group can now more effectively coordinate its multi-year investment plan, focusing on large-scale purification infrastructure and the deployment of advanced leak-detection technologies. This move strengthens the Group's industrial leadership in the national regulated water sector, ensuring that all territorial activities are aligned under a single, unified operational and financial strategy.

IREN ACQUA, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN.

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