Growth through M&A

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Deal-making is an important motor of utility company growth and a way to acquire the new capacity, technology and skills needed to address issues such as security of supply and cleaner generation. M&A transactions are key to utility companies extending their international footprints and achieving the right balance in their portfolios.

We help you make better deals and create value through mergers, acquisitions, disposals and restructuring. We work together to develop the right strategy before the deal, execute deals seamlessly, identify issues and points of negotiation and value and implement changes to deliver synergies and improvements after the deal.

We have a deep knowledge of the Energy & Utilities market from both a strategic and deals perspective, with strong credentials across a number of high profile M&A transactions. We have a dedicated multidisciplinary Energy & Utilities team in Italy and worldwide to support you through the whole transaction process (i.e. strategy, regulatory experts, tax and deals experts).

PwC can help you conduct pre-deal financial due diligence and evaluate the regulatory risks that might affect your proposed deal, such as:

  • definition and negotiation of agreements related to the transactions, following the results of the preliminary due diligence and the risk evaluation activity
  • impact of the regulatory regime on the target’s projected earnings and cash flows
  • determination of tariffs and RAB assessment
  • definition of tender procedures
  • analysis of authorisations and permits required by the Italian Law
  • status of concessions portfolio: deadline and renegotiation issues
  • projected market share
  • Capex requirements