Eni plans to sell 20% of Enilive. The six-legged dog strategy
Eni is studying the sale of 20% of Enilive, the division of the group that deals with sustainable mobility and manages the biorefineries. The rumors, already circulated in recent months regarding the search for a partner for a possible listing, were relaunched by the international press agency Bloomberg.
The Italian energy company, again according to what was reported by the agency, is working with various consultants, valuing the entire business at around 10 billion euros ($10.8 billion). However, any discussion on the extent of the sale of the shares is still at an early stage: the operation is still being studied and Eni has not yet definitively established the size of the share to be sold nor the subsequent stepsespecially in relation to the hypothesis of listing on the stock exchange.
The same CEO of Eni, Claudio Descalzi – remember the Sun 24 Hours– he had confirmed in April – on the sidelines of the presentation of the group’s quarterly – the looking for a partner and the objective of the listing, which would be part of the strategy pursued, which aims at a “satellite model”. “Plenitude has broken the ice, interest in Enilive is high and we are discussing with several possible strategic partners. It is important that they share the project, as happened with the Eip fund which acquired 7.6% of Plenitude through a capital increase of 588 million euros. Whoever enters into capital must have the same vision of the future and growth plans as us. However, I believe that before the end of the year we will identify the right partner for Enilive.”
A minority stake in Plenitude, Eni’s green division, was sold in 2023 to Energy Infrastructure Partners AGalways remember the Sun 24 Hours. But what are the expansionist aims of the six-legged dog? According to what he always writes Bloomberg Eni is also aiming toincorporate activities relating to the capture and sequestration of carbon dioxidealso predicting one Novamont spinoff (biochemistry) – which it controls through Versalis – which is expected to happen by 2027.
According to press rumors previously circulated, Eni always remembers the Sun 24 Hours,” has already started negotiations to sell up to 30% of Novamont, world leader in the bioplastics sector, for a consideration of around one billion euros”. But not only. According to what was reported by the economic newspaper, “there would have also been contacts with Blackstone and with the Norwegian fund HitechVision, already a partner of Eni in two joint ventures: Vår Energi, now listed in Oslo, into which Oil & Gas activities have merged, and Vårgrønn, specialized in offshore wind farms”.
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