Sixth Street Partners in final talks to buy stake in Eni's power unit - sources
By
Eni, advised by JPMorgan, is looking to sell a stake of up
to 49% in Enipower in a deal that could value the business at up
to
The sale is expected to be wrapped up by the end of the first quarter, the source said.
BlackRock (BLK) also studied a bid for the asset but a source close to the discussions said the fund's interest had cooled.
The companies all declined to comment.
Enipower, one of
As concerns about climate change push economies toward a lower carbon future, investing in fossil fuel assets is seen by some as a riskier bet than it used to be.
Eni, which has pledged to be carbon neutral by 2050, is selling the stake to help fund its shift away from oil and gas into cleaner businesses.
The group has merged its retail and renewable businesses and
is planning to list part of the unit this year in what could be
one of
(