Eni Backs Separate Listing of Retail, Renewables Business
07 Oktober 2021 - 05:16PM
Dow Jones News
By Mauro Orru
Eni SpA has opted to list its newly merged retail-and-renewables
business next year, as it seeks to maximize the value of its lower
carbon operations.
The Italian oil-and-gas major said Thursday that it has approved
the launch of a process for an initial public offering, which it
expects to complete next year.
"We have committed to being a leader in producing and selling
completely decarbonized products and an IPO of Eni's Retail &
Renewables business is an important step towards this goal," said
Eni Chief Executive Claudio Descalzi.
"Retail & Renewables is an exceptional business, which
combines a growing pipeline of renewable capacity with an
attractive and increasing customer base, and is uniquely positioned
to meet the opportunities presented by the energy transition," he
added.
Eni will keep a majority stake in the listed company, which will
have its own balance sheet and an investment-grade credit
rating.
The company will provide updates on the listing at its capital
markets day on Nov. 22.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 07, 2021 11:01 ET (15:01 GMT)
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