Italy's 2i Rete Gas starts process to list shares on Euronext Milan

MILAN (Reuters) - Italy's second-largest gas distributor 2i Rete Gas said on Wednesday it was working with Goldman Sachs to list its shares on the Milan stock exchange.

"2i Rete Gas, in agreement with its shareholders, as part of the possible strategic alternatives for maximising value, has started a preparatory process for the listing of the company on the Euronext Milan," it said in a statement.

The company added it would hire other advisers and legal consultants for the IPO in the coming weeks.

2i Rete Gas, controlled by Italian infrastructure fund F2i with a 64% stake, reported revenue of 731.6 million euros ($792.40 million) and earnings before interest, taxes, depreciation and amortisation (EBITDA) of 502.5 million euros in 2022.

It operates in 18 Italian regions and serves a total of 2,225 municipalities and around 4.9 million end customers, with more than 2,200 employees and around 72,000 km of network.

Dutch pension fund APG and funds managed by Ardian together hold a 36.1% stake in the company.

($1 = 0.9233 euros)

(Reporting by Elisa Anzolin, editing Gianluca Semeraro, Kirsten Donovan)