Eni SpA

ENI: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€43.50	Xnpz	Fzwcgnrnk

Eni Unveils Renewable Spin-Off Details; Provides Test Case for Peers

Allen Good

Nov 26, 2021

Eni plans to spin off its renewable generation, retail and electric vehicle charging business as a separate entity, called Plentitude, in 2022, while retaining a majority stake. By unburdening the low-carbon power businesses from the legacy hydrocarbon business, management hopes to accelerate its growth and decarbonization and achieve a lower cost of capital. Whether this is achievable remains uncertain, as there are no real precedents, so it will provide a test case for other integrated oils.

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