Eni launches IPO process for its integrated Gas and Power retail and renewables business

The Board of Eni, chaired by Lucia Calvosa, has approved the launch of a process for an Initial Public Offering and listing of shares in Eni’s newly merged Gas&Power retail and renewables business (in this press release named conventionally as ‘ENI R&R’). 

Eni has concluded that an IPO is the preferred route to crystallize the value of the business and plans to complete the transaction during 2022, subject to market conditions. Eni will retain a majority stake in the listed company.

Eni announced the start of a strategic project to define Eni R&R’s industrial and financial plan in April 2021. This aimed to identify the option that maximised the value of this unique business as part of the Company’s wider commitment to delivering value through the energy transition and reaching net zero emissions.

The transaction will help Eni grow its Retail and Renewables business and provide investors with greater visibility of the value of the unit. Eni R&R will be financially independent with its own balance sheet and an investment grade credit rating – allowing it to access debt at competitive costs and fund growth.

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Source: Energypedia

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