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Italy’s Eni mulls sale of Versalis stake to SK Capital

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/05/2016 (14:08)
According to market sources, Italy’s Eni is mulling over selling its stake in Versalis to SK Capital. Eni has reportedly said that it is planning to sell a stake in Versalis to a partner with the hope of boosting development in its petrochemicals business and has been negotiating with SK Capital for a while.

SK Capital would need to invest at least €1.5 billion ($1.7 billion) into Versalis, said CEO Claudio Descalzi. Eni has previously said that it would keep a substantial stake in Versalis to see whether business objectives were accomplished. Eni had previously committed to maintain Versalis in its current structure for at least five years while keeping employment levels unchanged for at least three years.
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