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Business
Eni fails to sell Versalis
by Alex Scott
June 27, 2016
| A version of this story appeared in
Volume 94, Issue 26
The Italian oil and gas firm Eni says a deal to sell a majority stake in its chemical business, Versalis, to the U.S. private equity firm SK Capital has fallen through. Eni says a deal became an “impossibility” following disagreements with SK on how Versalis would be governed. Eni says it will now consolidate Versalis’s financial results with its own, a hint that it has given up on the sale plan. Eni put Versalis on the block several months ago after years of heavy losses.
The power is now in your (nitrile gloved) hands
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