New Energy One Acquisition Confirms Carbon-Project Merger Talks
23 Juin 2023 - 6:09PM
Dow Jones News
By Michael Susin
New Energy One Acquisition Corp. confirmed on Friday that is in
talks with Italian energy group Eni regarding a potential
combination with a portfolio of carbon-capture and storage
projects.
In a statement responding to press speculation, the
London-listed group said that discussions are at a very preliminary
stage, and that neither the transaction nor a valuation has been
agreed.
Sky News reported on Thursday that New Energy One Acquisition
was in advanced talks to merge with U.K. carbon-capture and storage
projects Bacton and HyNet in a deal that could be valued at around
1 billion pounds ($1.27 billion) and would create one of the most
significant energy transition-focused groups to date listed in
London.
Eni International B.V., a wholly-owned subsidiary of Eni, is a
sponsor of New Energy One Acquisition.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
June 23, 2023 11:54 ET (15:54 GMT)
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