Eni Sells Stake in Biorefining Unit Enilive to KKR in Green Push [Yahoo! Finance]
SNAM SPA UNSP/ADR (SNMRY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Most Read from Bloomberg The deal envisages the US investment firm taking 25% of Enilive for €2.94 billion ($3.17 billion), giving the division a valuation of €11.75 billion, according to a statement on Thursday. Eni said it will also inject €500 million in the unit — which comprises biorefining and biomethane assets as well as mobility solutions — to make it debt-free. Eni's new strategy started with the disposal of a minority stake in green division Plenitude to Energy Infrastructure Partners AG in 2023. The company's so-called satellite model includes spinning off divisions and partnering with external investors, with a view to eventually listing them. Shares of the company rose as much as 1.5% in Milan trading. Eni, which reports results for the third quarter on Friday, is also in talks with investors including Snam SpA for a stake in a new carbon capture and storage division. It's also planning to spend about €2 billion to overhaul its aging chemicals business in Italy a
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- Snam SpA (SNMRF) Q3 2024 Earnings Call Highlights: Strong EBITDA Growth and Strategic Investments [Yahoo! Finance]Yahoo! Finance
- Snam S.p.A. 2024 Q3 - Results - Earnings Call Presentation [Seeking Alpha]Seeking Alpha
- Snam S.p.A. (OTCMKTS: SNMRY) is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a "buy" rating on the stock.MarketBeat