BlackRock Tapped As Potential Buyer For Exxon's Italian LNG Asset: Report
Portfolio Pulse from Shivani Kumaresan
Exxon Mobil Corp (XOM) has reportedly identified BlackRock Inc (BLK) as the potential buyer for its 70.68% share in Italy's leading liquefied natural gas (LNG) import terminal, the Adriatic LNG Terminal. The decision aligns with Exxon's strategy to shed non-core assets. The terminal is estimated to be worth €800 million ($881 million). The transaction is yet to be finalized.
October 04, 2023 | 10:24 am
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NEUTRAL IMPACT
BlackRock has been identified as the potential buyer for Exxon Mobil's majority stake in the Adriatic LNG Terminal.
BlackRock's potential acquisition of the LNG terminal could diversify its portfolio and provide a new revenue stream. However, the financial impact will depend on the terms of the deal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Exxon Mobil is planning to sell its majority stake in the Adriatic LNG Terminal to BlackRock.
The sale of the LNG terminal is part of Exxon's strategy to shed non-core assets. This could potentially streamline operations and improve efficiency, but the financial impact will depend on the terms of the deal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100