Novamont Acquisition Set to Contribute to Decarbonization of Versalis’ Product Portfolio

Marco Cerrina, Senior Partner NB Renaissance Mater Bi – Catia Bastioli, CEO of Novamont – Adriano Alfani, CEO of Versalis (Eni)

(IN BRIEF) Versalis, Eni’s chemical company and shareholder of Novamont, has signed an agreement to acquire the remaining 64% of Novamont’s shares held by Mater-Bi. Novamont is a leading international company in the field of chemistry from renewable sources, and the acquisition will allow Versalis to accelerate its strategy by integrating a technological platform that is both unique and complementary, contributing to the decarbonization of its product portfolio. The deal is subject to approval by the authorities, and its closing date is yet to be determined.

(PRESS RELEASE) MILAN, 28-Apr-2023 — /EuropaWire/ —  Eni (BIT: ENI), an Italian multinational energy company with focus on innovation, efficiency and accessibility for all, announces that its chemical company Versalis and Novamont’s shareholder (36%), and Mater-Bi, a company controlled by Investitori Associati II and NB Renaissance, have signed an agreement. The deal involves Versalis acquiring the remaining 64% of Novamont’s shares currently held by Mater-Bi. Novamont is an international leader in the field of chemistry from renewable sources.

The timing of the closing and the next steps are subject to approval by competent authorities. Versalis is Italy’s largest chemical company and an international leader. Its product portfolio specialization focuses on chemistry from renewables.

Novamont is a B Corp-certified Benefit company and a prominent player in the circular bioeconomy sector. It is also a leader in the market for biodegradable and compostable bioplastics and biochemicals. The acquisition provides an excellent opportunity for Versalis to expedite its strategy by integrating a technological platform that is both unique and complementary. This will significantly contribute to the decarbonization of Versalis’ product portfolio.

The deal will strengthen the Novamont platform by accelerating the growth of high value-added, multi-product supply chains and local projects. The aim is to decouple the use of natural resources from economic growth, enabling more to be achieved with less.

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SOURCE: Eni S.p.A.