In accordance with its 2009-2012 Strategic Plan and in the framework of the optimization of its portfolio, Eni has identified certain assets and mining licences in Italy which it intends to transfer to three new units, “NewCos”, entirely controlled by Eni.

The assets, which include 44 mining leases, are divided into three groups, depending on their geographical location, which will each be transferred into a single newco: the first lies in northern Italy (Po Valley and Emilia Romagna), the second in central Italy (Marche, Abruzzo, Molise) and the third in southern Italy (Crotone area).

The companies holding the assets located in northern and central Italy could eventually be sold to third parties. Due to their size and particular characteristics, these assets are marginal to Eni’s strategy, but could be of significant interest to other operators with the adequate financial and technical requirements to realise their full industrial potential and maximise value creation.

Therefore Eni, advised by Goldman Sachs and Rothschild as its financial advisors, has involved many potential acquirers in this initiative, both Italian and international, and expects the operation to be completed by the year-end.

Tags: Eni Norge AS