Italy's Eni halts Australian sale after bids disappoint
1/12/2021
Reuters - Italian oil and gas group Eni has put on hold the sale of Australian gas assets it values at around $1 B after they failed to attract satisfactory bids, two sources close to the matter said, confirming a press report.
One of the sources said offers had been well below what Eni had expected. News that the sale process had been halted was reported first by Italian daily MF.
The disposal of its Australian gas assets is part of Eni’s plans to sell non-core assets to raise cash after the global downturn triggered by the coronavirus pandemic, and its drive to focus on cleaner fuels.
Reporting by Giulio Piovaccari and Stephen Jewkes
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