PATRIZIA completes acquistion of Biomet from Ankorgaz

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PATRIZIA has acquired an 80% majority stake in Italian bio-Liquified Natural Gas (LNG) producer Biomet through its European Infrastructure Fund II from Walter Lagorio and Ankorgaz. The transaction is valued at EUR75 million (US$78.89 million).

Biomet is a bio-LNG producer that uses an organic fraction of urban solid waste to produce biomethane, which then is liquified, processed and distributed by the company. Bioment is currently developing two new, modern facilities that include a biomethane plant and an LNG liquefaction plant, which are both strategically located around 40 km south of Milan. Biomet’s second-generation biogas and upgrading plant for biomethane production currently has a capacity for 40,000 tons of organic waste each year, with the potential to increase this to 60,000 tons. The liquefaction facility has capacity for 8,800 tons of bio-LNG per year, with the potential to increase production to 26,400 tons.

PATRIZIA Infrastructure was advised by EY, GOP and Willis Towers Watson, while Ankorgaz was advised by BNP Paribas and White & Case. Belluzzo International Partners handled the tax aspects of the transaction for Ankorgaz. DWPF provided model audit advice to Patrizia.

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