'Eni Exploring Sale Of Stake In Bioplastic Maker Novamont, Source Says' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Eni is in talks to sell a minority stake in its Novamont unit, a bioplastic maker, which could be valued at around 1 billion euros. Eni, which owns Novamont through Versalis, acquired the remaining 64% of Novamont last October. Potential investors include HitecVision and Blackstone. The sale would enhance Eni's sustainability profile in the chemical sector by growing Novamont, a leader in bioplastics production. Discussions are preliminary, and no final decision has been made on the stake size to be sold.
December 15, 2023 | 3:54 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Eni is exploring the sale of a minority stake in Novamont, which could value the bioplastic maker at €1B. The move aligns with Eni's strategy to enhance its sustainability profile in the chemical industry.
The potential sale of a minority stake in Novamont by Eni could be seen positively by investors as it indicates a strategic move to focus on sustainability and growth in the circular economy sector. This could lead to a short-term positive impact on Eni's stock price as the market often reacts favorably to such strategic initiatives aimed at enhancing a company's sustainability profile. However, since discussions are still preliminary, the impact is not guaranteed.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80