Deals
Italy’s Eni Nears $5 Billion Deal for Neptune Energy
- Eni is set to beat out rival suitors including TotalEnergies
- Italian group is seeking to expand its natural gas business
Neptune LNG floating storage regasification unit
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Italian energy group Eni SpA is nearing a deal to acquire oil and gas explorer Neptune Energy Group Ltd. for about $5 billion, according to people familiar with the matter.
Eni could announce a deal as soon as this week for private equity-backed Neptune, said the people, who asked to not be identified because the discussions are private. Eni is poised to beat out suitors including TotalEnergies SE for the asset, the people said.