Italian energy conglomerate Eni SpA is on track to complete the sale of a minority stake in its biofuel subsidiary, Enilive, by the end of 2024.
This development was confirmed by Eni’s Chief Executive, Claudio Descalzi, during a recent conference.
Negotiations Progressing Swiftly
Descalzi indicated that the divestment process is well underway, with ongoing discussions regarding certain details. He expressed optimism about closing the deal by the end of the year, highlighting the accelerated pace of negotiations.
Back in April, Reuters reported that Eni planned to divest minority stakes in both Enilive and its bioplastic unit, Novamont. These transactions were expected to generate a combined value of approximately €1.3 billion.
Enilive’s Strategic Importance
Enilive represents a crucial component of Eni’s broader strategy to diversify its energy portfolio and transition towards more sustainable operations. The biofuel unit focuses on the production of sustainable aviation fuels (SAF), which are considered a key element in decarbonizing the aviation industry.
Future Outlook
The successful divestment of a minority stake in Enilive would not only provide Eni with additional capital but also strengthen Enilive’s position in the rapidly evolving biofuel market. It would also contribute to Eni’s ongoing efforts to reduce its carbon footprint and align with global sustainability goals.