Eni Hires JPMorgan to Sell Brindisi Cracking Facility
Eni is seeking a buyer for its mothballed site as part of a two billion euro shift to biofuels. Executives met with ministers today to review the overhaul plan.
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ENI SPA hired JPMORGAN CHASE & CO to advise on the sale of its Brindisi cracking plant in Italy. The site was mothballed last year as Eni began a €2 billion overhaul of its chemicals division. Offloading the site reduces exposure to high-cost European petrochemicals while funding a pivot toward biofuels and recycling.
