Italian utilities Hera, Ascopiave agree energy partnership

MILAN (Reuters) - ukItalian regional utility Ascopiave said on Monday it had agreed to place its retail gas and power clients in a joint venture with larger peer Hera in return for a series of gas distribution assets in the north east.In a joint statement, the two utilities said Hera would have 52% of the joint venture, EstEnergy, valued at 864.5 million euros (£773.1 million) and with core earnings of 69 million euros. The deal, when completed, will also see Ascopiave buy gas distribution..