By Francesca Landini
MILAN (Reuters) – Italian energy group Eni anticipates 2.5 billion euros ($ 2.7 billion) in net earnings from further disposals that may definitely be completed following 12 months, Chief Transition & & Financial Officer Francesco Gattei claimed on Friday.
The group revealed on Thursday that united state monetary funding group KKR will surely purchase 25% of its biofuel machine Enilive for two.9 billion euros as element of Eni’s method to dilate brand-new companies with excessive growth capability to cash its initiatives to cut back its greenhouse fuel discharges.
“We will have a cash-in of 3.6 billion euros this year and we expect additional disposals next year, with a cash-in of around 2.5 billion euros,” Gattei claimed all through a teleconference.
He claimed Eni would possibly market a 2nd threat in Enilive, together with the dimension would probably be a lot lower than 10%.
Sources knowledgeable Reuters final month that united state funds Stonepeak and Apollo remained in talks with Eni over the potential sale of a 2nd threat in Enilive.
Eni is moreover touching potential prospects of a threat in its carbon seize and cupboard space group.
“We are currently talking with five, six investors interested in taking a stake in our CCS business,” Gattei claimed.
He included Eni would possibly market a 2nd threat in retail and eco-friendly machine Plenitude and one in bio-plastic enterprise Novamont, validating what assets had really knowledgeable Reuters.
Apollo and Norway’s unique fairness fund HitecVision are amongst the suitors for the 2nd threat in Plenitude after Swiss property supervisor Energy Infrastructure Partners bought 7.6% within the machine in March, assets have really claimed.
Eni was moreover in settlements to find a companion for making a present upstream exploration, Gattei claimed, with out specifying.
Shares in Eni closed 1.4% on Friday after the group claimed it could definitely improve its share buyback program to 2 billion euros complying with better-than-expected third-quarter outcomes.
($ 1 = 0.9231 euros)
(Reporting by Francesca Landini; Editing by Rod Nickel)
