Eni (E) to Divest Stake in Carbon Capture Unit for $1.2B Valuation

1 day ago

Eni (E, Financial) is divesting a substantial portion of its carbon capture and storage business.
The deal involves BlackRock's Global Infrastructure Partners, valued at approximately €1 billion.
The transaction includes major projects in the UK and the Netherlands, with potential for future expansion.

Eni's Strategic Divestment

Eni S.p.A. (NYSE: E) is poised for a strategic divestment as it prepares to sell nearly 50% of its carbon capture and storage (CCS) business to BlackRock's Global Infrastructure Partners. This move is aligned with Eni's ongoing efforts to optimize its portfolio and enhance value for shareholders.

Details of the Transaction

The transaction, which is anticipated to value Eni's CCS unit at around €1 billion ($1.2 billion), marks a significant step in the company's strategy. Eni’s carbon capture projects have a strong presence in the United Kingdom and the Netherlands, two regions known for their commitment to reducing carbon emissions.

Impact and Future Prospects

This strategic deal not only underscores Eni's commitment to sustainable practices but also opens up opportunities for further expansion in the green technology sector. Investors should watch for how this transaction could enhance Eni's capabilities and market position in the renewable energy landscape.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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