Eni (E) Considers 20% Stake Sale in Its Enilive Biorefining Unit

Core Viewpoint - Eni SpA is considering the sale of a 20% stake in its Enilive biorefining unit, which has an estimated value of €10 billion, due to interest from potential buyers [1][5] Group 1: Enilive's Operations and Financial Performance - Enilive's business encompasses biorefining and biomethane assets, along with mobility solutions, reporting an adjusted EBITDA of €250 million in Q1 2024, a 27% increase from the previous year [2] Group 2: Market Context and Strategic Rationale - The potential sale aligns with Eni's strategy to leverage the growing interest in sustainable energy and biofuels, implementing a "satellite model" to either list divisions independently or seek partnerships [3] - Eni aims to attract investors and enhance its focus on environmentally friendly technologies through the value of its Enilive unit [3] Group 3: Future Plans for Eni's Divisions - Eni plans to separate its carbon capture unit and Novamont biochemical subsidiary by 2027 as part of its strategy to streamline operations and focus on key growth areas [4] Group 4: Conclusion - The consideration of selling a stake in Enilive reflects the increasing market interest in sustainable energy and Eni's strategic efforts to optimize its portfolio, positioning the company for future growth opportunities in the energy transition landscape [5]