1 March 2016

Europe Energy To Acquire Struggling Gascom Srl

Europe Energy, company leader in the trading of electricity and gas in Italy, is continuing the acquisition process of 100% of the branch specialised in the retail market for the sale of electricity and gas owned by Gascom srl. Gascom srl is an energy company from Padua that has entered into an arrangement with creditors in November 2014.In the past few days, the creditors’ meeting has voted in favour of the project for the arrangement. The arrangement also includes an irrevocable purchase proposal of the branch of Gascom srl by Europe Energy.This marked an important step towards the conclusion of the acquisition of the branch of Gascom srl that will allow Europe Energy to save the Gascom Groupand its 55 employees.A 10 million euro operation that will allow Europe Energy to strengthen its position in the retail energy market and keep investing with optimism into the development of services for final customers and businesses. The branch counts over 30.000 clients between electricity and gas, mainly in the north of Italy.

The approval of the project for the creditors’ arrangement of Gascom Srl – Matteo Ballarin, CEO and Chairman of Europe Energy Spa – represents a fundamental step towards the strengthening and the expansion of our presence in the energy retail market and on the territory. This is for us only the first step of an ambitious project that aims to bring Europe Energy in all the main city in the Triveneto area and Emilia Romagna through the opening of several boutiques for the direct selling of electricity and gas. We want to be even closer to our customers, we want to create services tailored for them, we want to make them feel our presence on the territory and, above all, we want to put ourselves on the line. Moreover, we are working on several ambitious initiatives that will range from important sponsorships to ulterior international growth, not only in trading where we are basically already present in all the European markets but also in the retail energy market.”