Eni CEO says U.S. funds are showing confidence in group's strategy
Tweet
Share
E-mail
FILE PHOTO: ENI CEO Claudio Descalzi speaks during Abu Dhabi International Progressive Energy Congress (ADIPEC), in Abu Dhabi, United Arab Emirates, October 2, 2023. REUTERS/Amr Alfiky/File Photo
MILAN (Reuters) - U.S. investment funds are showing confidence in Eni's strategy of spinning off growth businesses in order to attract financial resources, the Italian energy group's CEO Claudio Descalzi said on Friday.
Under its so-called 'satellite' strategy, Eni has created several companies dedicated to low-carbon businesses and upstream assets and is currently in talks with U.S. fund KKR to sell a minority stake in its biofuel unit Enilive.
"The satellite model that was initially viewed with curiosity and some doubt is bearing fruit far above expectations," Descalzi said speaking on the sidelines of a conference in Milan.
(Reporting by Francesca Landini, editing by Gavin Jones)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Indonesia says death toll from August 15 earthquake reaches 100
- German billionaire Klaus-Michael Kuehne dies at age 89
- Kremlin says British missile help for Ukraine 'adds fuel to the fire'
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
