Exxon LNG Terminal In Italy Attracts Bid From BlackRock And Three Others, Transaction Could Be Worth $881M
Portfolio Pulse from Anusuya Lahiri
Four international groups, including BlackRock, are competing to purchase Exxon Mobil's majority stake in an LNG terminal offshore Italy. The deal could value the terminal at nearly $881 million.
May 26, 2023 | 3:51 pm
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NEUTRAL IMPACT
BlackRock is one of the four international groups bidding for Exxon Mobil's majority stake in an LNG terminal offshore Italy.
BlackRock's interest in the LNG terminal demonstrates its focus on infrastructure investments. However, as one of four bidders, it is uncertain whether BlackRock will be successful in acquiring the asset. The short-term impact on BlackRock's stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Exxon Mobil is selling its majority stake in an LNG terminal offshore Italy, attracting interest from BlackRock and three other international groups.
Exxon Mobil is divesting non-core assets, and the sale of its majority stake in the LNG terminal is part of this strategy. While the sale could generate significant cash, it is not expected to have a major impact on the company's overall operations or stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100