Eni Confirms Interest in Biorefining Unit Minority Stake

By Christian Moess Laursen

Eni said it has received several preliminary expressions of interest for a minority stake in its biorefining unit Enilive.

The Italian oil-and-gas major said Thursday that a potential sale could be part of its satellite-model approach, by which it aims to develop units linked to the energy transition that can access capital markets and finance their own growth, in part through third-party funding.

An example of this strategy was the sale of a 9% stake in its low-carbon unit Plenitude for 700 million euros ($757.7 million) in December to investor Energy Infrastructure Partners.

Talks are at a too-early stage for Eni to provide further details on the Enilive stake interest, a spokesperson said.

Late Wednesday, Bloomberg reported the company was exploring the sale of a 20% stake in Enilive, and that it values the unit around 10 billion euros ($10.82 billion).

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

May 23, 2024 08:28 ET (12:28 GMT)

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