E - Eni intensifies talks to sell stake in renewables unit - Reuters

2023-06-14 15:19:58 ET

Eni ( NYSE: E ) has intensified talks with several investors over a potential sale of a minority stake in its Plenitude renewables and retail business Plenitude, Reuters reported Wednesday.

Eni ( E ) reportedly is working on a disposal of 5%-15% of Plenitude and could complete a deal before Italy's summer break, which normally occurs in August.

Plenitude, which recorded an adjusted operating profit of €345M in 2022, could be valued at more than €6B (~$6.5B) in the private transaction, according to the report.

Eni ( E ) shelved an IPO of Plenitude in June 2022 due to adverse market conditions but has not stopped talking with investors over a potential private sale of a stake.

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