By Giulia Petroni

Eni SpA's chemical subsidiary Versalis is in exclusive negotiations to finalize the acquisition of a remaining 64% stake in Italian bioplastic group Novamont, taking full control of the company.

The Italian oil-and-gas major said Wednesday that negotiations are underway with Mater-Bi, a company controlled by Investitori Associati II and NB Renaissance. Versalis currently holds a 36% share in Novamont.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

April 05, 2023 11:01 ET (15:01 GMT)

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