Eni Talking to Investors on Energy Transition SPAC
MILAN (Reuters) — Eni is testing investor appetite for a special purpose acquisition company (SPAC) dedicated to energy transition projects as part of its own green drive, two sources said.
![](/media/6162/eni-sign_1k.jpg?width=300)
The Italian energy group is working with two or three other investors to set up and list the SPAC, which could raise more than 200 million euros ($229.32 million), one of the sources said.
Eni will have a minority stake in the vehicle, the source said, without providing further detail.
Eni declined to comment.
A SPAC is a shell company that raises money in an initial public offering to merge with a privately held company, which then becomes publicly traded as a result.
Eni, which last year raised its climate ambitions with a pledge to be carbon neutral by 2050, is investing heavily in clean businesses as it pivots away from oil and gas.
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