Reuters exclusively reports Italy’s Eni to shed retail-renewable energy stake, confirming Reuters report

On April 30, Italian energy group Eni confirmed a Reuters report from March 8 that it is planning to spin off a minority stake in its new retail and renewable business next year as part of its strategy to reduce greenhouse gas emissions and oil and gas production in the coming decades. Eni said in a statement it planned to list or sell a minority stake in the business that includes renewable energy and retail energy sales next year. The business, which includes renewable power generation and energy sales to customers, could be worth in the neighborhood of 10 billion euros, a source told Reuters in March. Eni shares rose on March 8 on the spin off report and since then, have outperformed all other major oil companies.