Eni And Var Energy Agree To Buy Neptune Energy, With Combined Value Of Around $5B
Portfolio Pulse from Lekha Gupta
Eni SpA (NYSE:E) and Vår Energi ASA have agreed to acquire Neptune Energy Group for a combined value of around $5 billion. Eni will acquire Neptune's global business outside of Norway and Germany for $2.6 billion, while Vår Energi will buy Neptune's Norway business for $2.3 billion. The acquisition is expected to close in Q1 2024.
June 23, 2023 | 1:28 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Eni SpA (NYSE:E) is set to acquire Neptune Energy Group's global business outside of Norway and Germany for $2.6 billion. The acquisition is expected to close in Q1 2024 and be immediately accretive to earnings, CFFO per share, and FCF positive.
The acquisition of Neptune Energy Group's global business will expand Eni's portfolio and is expected to be immediately accretive to earnings, CFFO per share, and FCF positive. This is likely to have a positive impact on Eni's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100