Eni's Versalis and Mater-Bi, a company controlled by Investitori Associati II and NB Renaissance, have signed an agreement in which Versalis will acquire the remaining 64% interest in Novamont from Mater-Bi, making Versalis sole owner, said the company.
The deal is subject to approval by competent authorities. An expected completion date was not available.
Next steps and the timing of closing are subject to approval by the competent authorities.
Versalis is the largest Italian chemical company and leader at an international level, whose strategy hinges on its product portfolio specialization, including the chemistry from renewables. Novamont is a B Corp-certified Benefit company and a leading player in the circular bioeconomy sector, as well as a leader in the market for biodegradable and compostable bioplastics and biochemicals. Its acquisition represents a great opportunity for Versalis to accelerate its strategy through the integration of a technological platform which is both unique and complementary. This will significantly contribute to the decarbonization of Versalis’ product portfolio.
The deal will strengthen the Novamont platform by accelerating the growth of high value-added, multi-product supply chains and local projects. The goal is decoupling the use of natural resources from economic growth so as to keep doing more with less.
We remind, in Italy, Versalis, Eni’s chemical company, has acquired the technology to produce enzymes for second-generation ethanol from DSM. The agreement has a strategic value for Versalis as it integrates with proprietary Proesa® technology, applied at the Crescentino plant for the production of sustainable bioethanol and chemical products from lignocellulosic biomass, improving the competitiveness of technology and production.
mrchub.com