EQUITA assisted SEA

SEA 1920x1080
SEA 1920x1080

Milano, September 30th 2022 – SEA – the group that operates the airports of Milano Linate and Milano Malpensa providing all the services and related activities – has announced to have transferred 100% of SEA Energia to A2A Calore e Servizi, controlled by A2A.

The process started in July 2021 when SEA launched a public tender procedure for the complete sale of SEA Energia. The object of the tender was, in addition to the purchase and sale of the shares, the signing of two contracts for the supply of electricity and heat, the latter lasting nine years.

The transaction resulted in the acquisition and management by A2A of the Linate cogeneration plant and the Malpensa trigeneration plant and is configured as a long-term partnership that aims to foster the decarbonisation process of the two Milan airports. The aforementioned agreement will allow SEA to obtain operating efficiencies, exploiting the technological expertise in the management of the A2A Group’s power plants, as well as the full use of the available thermal and electrical capacity. Finally, A2A’s know-how will facilitate the achievement of the objective of carbon neutrality for the two Milan airports.

Equita assisted SEA as sell-side advisor with a team led by Marino Marchi (Managing Director). This transaction confirms the successful track-record of Equita in the energy sector, assisting industrial groups and multiutilities in strategic and complex deals.

The transaction in a nutshell

SEA tombstone

SEA, assisted by Equita as sell-side advisor, completed the sale of 100% of SEA Energia to A2A Group

SEA S.p.A.
September 2022
Sale of 100% stake in SEA Energia to A2A Group
Sell-side Advisor
M&A advisory

The Company

SEA Energia manages the two cogeneration plants at Malpensa and Linate airports: wholly owned by SEA, it designs, builds and manages cogeneration energy plants for the supply, production and sale of electric, thermal and cooling energy. With the two plants managed, SEA Energia is able to meet all the airports' energy needs, selling the surplus to third-party customers; in particular, the heat produced by the Linate plant is also used to supply district heating to a large urban area in the Milan-East area, feeding the connection network managed by A2A Calore e Servizi.