Eni SpA
ENI: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€39.60 | Lvz | Xyfcxnqn |
Eni Unveils Renewable Spin-Off Details; Provides Test Case for Peers
Eni plans to spin off its renewable generation, retail and electric vehicle charging business as a separate entity, called Plentitude, in 2022, while retaining a majority stake. By unburdening the low-carbon power businesses from the legacy hydrocarbon business, management hopes to accelerate its growth and decarbonization and achieve a lower cost of capital. Whether this is achievable remains uncertain, as there are no real precedents, so it will provide a test case for other integrated oils.