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Reduction of Fossil Fuel-Based Production by Eni by 20% by End of 2025?
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Eni's official sustainability and financial reports
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Eni to Invest €2 Billion in Chemicals Overhaul, Sells Enilive Stake to KKR for €2.938 Billion, Bloomberg News Reports
Oct 24, 2024, 05:57 AM
Eni is set to invest €2 billion to overhaul its aging chemicals business in Italy, shifting from fossil fuel-based products to decarbonized options. According to Bloomberg News, Eni has signed an agreement with KKR & Co to sell a 25% stake in its biorefining unit, Enilive, for €2.938 billion. The transaction, funded through the purchase of Enilive’s shares from Eni for a value of EUR 2.438 billion, values Enilive's share capital at €11.75 billion. This move is aimed at accelerating Eni's sustainable mobility and energy transition efforts. The deal is subject to customary approvals.
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