(CercleFinance.com) – Eni announces that it has completed the sale of virtually all of its upstream assets in the United Kingdom – with the exception of the Eastern Irish Sea assets and carbon capture and storage activities ( CCUS) (‘Eni UK Business’) – in Ithaca.
In return, Eni UK receives new ordinary shares representing approximately 38.7% of the enlarged issued share capital of Ithaca.
This combination reaffirms Eni’s commitment to the United Kingdom, where it is active across the entire energy value chain (upstream oil and gas, renewable energy, CCS projects, potential development of magnetic fusion projects).
By bringing together two complementary portfolios, the transaction consolidates Eni’s position in the country’s upstream sector, where the company sees opportunities for growth and optimization.
Eni becomes a committed shareholder of Ithaca, which positions itself as the largest holder of resources in the British North Sea. The transaction has been approved by the relevant authorities.
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