Deals
Eni Weighs Takeover of $5 Billion Carlyle-Backed Explorer Neptune
- Italian energy major is working with adviser on possible deal
- Neptune Energy is backed by buyout firms Carlyle and CVC
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Eni SpA is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd., people familiar with the matter said, in what would be a rare upstream acquisition by a European major amid the broader industry shift to renewables.
The Italian energy giant is working with an adviser as it studies the feasibility of a deal, according to the people, who asked not to be identified discussing confidential information. Neptune, which is backed by Carlyle Group Inc. and CVC Capital Partners, could be valued at more than $5 billion in a takeover, they said.