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Business

Eni fails to sell Versalis

by Alex Scott
June 27, 2016 | 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.

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