*DJ Eni Launches IPO Process for Gas&Power Retail and Renewables Business
(MORE TO FOLLOW) Dow Jones Newswires
October 07, 2021 10:27 ET (14:27 GMT)
*DJ Eni: Board Approved Listing of Shares in Newly Merged Business
(MORE TO FOLLOW) Dow Jones Newswires
October 07, 2021 10:28 ET (14:28 GMT)
*DJ Eni Plans to Complete Transaction During 2022
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October 07, 2021 10:28 ET (14:28 GMT)
*DJ Eni: Transaction Is Subject to Market Conditions
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October 07, 2021 10:29 ET (14:29 GMT)
*DJ Eni to Retain Majority Stake in Listed Company
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October 07, 2021 10:29 ET (14:29 GMT)
*DJ Eni to Give Further Updates at CMD on Nov. 22
(MORE TO FOLLOW) Dow Jones Newswires
October 07, 2021 10:30 ET (14:30 GMT)
DJ Eni Backs Separate Listing of Retail, Renewables Business
By Mauro Orru
Eni SpA has opted to list its newly merged retail-and-renewables business next year, as it seeks to maximize the value of its lower carbon operations.
The Italian oil-and-gas major said Thursday that it has approved the launch of a process for an initial public offering, which it expects to complete next year.
"We have committed to being a leader in producing and selling completely decarbonized products and an IPO of Eni's Retail & Renewables business is an important step towards this goal," said Eni Chief Executive Claudio Descalzi.
"Retail & Renewables is an exceptional business, which combines a growing pipeline of renewable capacity with an attractive and increasing customer base, and is uniquely positioned to meet the opportunities presented by the energy transition," he added.
Eni will keep a majority stake in the listed company, which will have its own balance sheet and an investment-grade credit rating.
The company will provide updates on the listing at its capital markets day on Nov. 22.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 07, 2021 10:46 ET (14:46 GMT)
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