Each group will 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 realize their full industrial potential and maximize 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.
There will be no negative impact on employee numbers and Eni has already informed trade unions of the initiative.
Through this initiative, Eni aims to optimize its operating efficiency in Italy and rationalize its portfolio. Moreover, the company wants to make room for other players in line with market requirements and Italian liberalization policies.
