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Eni (NYSE:E) is looking to raise more than €4B (~$4.3B) from disposals in its global upstream business, as part of a broader strategy of selling €8B in assets over the next three years, Bloomberg reported Monday.
The dual approach drawn up by CEO Claudio Descalzi would see Eni (E) divest assets including smaller projects that could be attractive to local buyers, while also weighing sales of stakes in some major projects, according to the report.
The company could potentially raise €850M-€1B through the sale of Alaskan assets to Hilcorp, while a similar amount could be raised by selling a 30% stake in Ivory Coast operations, the report said.
Eni (E) reportedly is also planning a reorganization of its upstream activities in Italy to regroup them into a single unit, although discussions are ongoing and no final decision has been made.