Eni S.p.A. (E)
Pre-market:
- Zacks
Eni (E) to Divest Its UK Upstream Assets to Ithaca Energy
Per the deal, Eni (E) will receive new shares in Ithaca Energy, amounting to 38.5% of the total shares post-merger.
- Reuters
Italy's top administrative court upholds Eni appeal against biofuel fine
Italy's highest administrative court on Wednesday upheld an appeal by Eni against a 5 million euro ($5.3 million) antitrust fine imposed over the marketing of fuel, the Italian energy group said in a statement. The antitrust authority had taken aim at an advertising campaign for Eni Diesel+ fuel in 2020, questioning whether it overstated the environmental benefit of the green component consisting of a percentage of hydrogenated biofuel blended into diesel. The Council of State, Italy's top administrative court, definitively ruled that Eni had not implemented any unfair commercial practice to the detriment of consumers, the energy company said.
- Business Insider
Ithaca Energy reaches agreement with Eni for UK assets
UK producer suggests the combination will enable up to $500m total dividends during 2024 and 2025
