(Alliance News) - Renergetica Spa announced Friday evening that the CVA Group, through CVA EOS Srl, a single-member company wholly owned by Compagnia Valdostana delle Acque - CVA Srl, has signed a contract with Exacto Spa to purchase a stake representing 60 percent of Renergetica's share capital.

Following the completion of the acquisition, CVA EOS will be required to launch a mandatory total takeover bid pursuant to Renergetica's bylaws on the remaining ordinary shares of Renergetica.

Stefano Giusto, chairman and chief executive officer of Renergetica, commented, "The agreement signed with the CVA group represents a milestone for Renergetica's industrial future, allowing the full exploitation of the portfolio of skills of its people and internal development team, the exclusive driver of the development of the pipeline of new renewable projects, which in Italy has exceeded 860MW."

Renergetica on Monday trades in green by 54 percent at EUR9.80 per share

By Maurizio Carta, Alliance News reporter

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