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You are in: 2007 Group Performance » Corporate Events and Group Structure

Corporate events and Group structure

Financial year 2007 was characterised by the continued rationalisation of the Group’s corporate structure, which led to the disposal/liquidation of 6 investee companies, striking off the Companies’ Register of 5 companies in liquidation, and 2 merger operations, including the merger by incorporation of Sat Spa in Hera Spa.

Earlier, during financial year 2006, 24 disposals/liquidations of investee companies had taken place, in addition to 3 merger operations, including the merger by incorporation of Geat Distribuzione Gas Spa in Hera Spa.

The main M&A transactions which took place during 2007 are also described below.


Recupera Srl

On 17 May 2007 Hera Spa acquired the equity investment (6.05%) held by Area Spa in Recupera Srl, a company that provides consulting services in the ecology, chemistry and agricultural domain thus bringing its stake to 100% of the company's share capital.

Ecosfera Spa

On 30 May 2007 Hera Spa acquired the equity investments held by Area Spa (22.50%), Finmedia Srl (22.50%) and Sies Srl (4%) in Ecosfera Spa, a company that operates in the collection and disposal of industrial and civil waste, bringing its equity investment to 100% of the company's share capital.

Aspes Multiservizi Spa

On 4 July 2007 Hera Spa acquired from the public 7,695 shares of Aspes Multiservizi Spa, equal to 0.07% of the share capital, bringing its stake to 49.86%.

Gastecnica Galliera Srl

On 23-24 October 2007 Hera Spa acquired the entire equity investment in the company Gastecnica Galliera Srl, a company that distributes natural gas in the Municipality of Castello d’Argile, therefore becoming its sole shareholder.

Sat Spa

On 19 December 2007 the Sat Spa merger by incorporation in Hera Spa agreement was signed, going into effect on 1 January 2008. Sat Spa is a multi-service company operating in the territory of the municipalities of Sassuolo, Fiorano Modenese, Formigine, Serramazzoni and Maranello.

Marche Multiservizi Spa

On 21 December 2007 the Megas Spa merger by incorporation in Aspes Multiservizi Spa was signed, going into effect on 1 January 2008, in order to aggregate the two multiutilities companies operating in the province of Pesaro – Urbino. Starting on the date the merger went into effect, Aspes Multiservizi Spa changed its company name to Marche Multiservizi Spa.

Other transactions

Other transactions involving Hera Group companies were carried out during 2007:

  • Taking effect on 1 July 2007, the Hera Energie Bologna Srl shareholders’ meeting passed a resolution to increase its share capital, to be freed in kind by shareholder Eco Termo Logic Srl by way of allotting its energy service line of business. Taking effect on the same date was conclusion of the transaction of selling Eco Termo Logic Srl company shares to Hera Comm Srl in order that the latter would hold 51% of the share capital.
  • The company Feronia Srl was established on 3 October 2007; its purpose is the execution and management of the Finale Emilia (Modena) landfill, 40% held by Sat Spa and 60% held by Sorgea Srl.