Versalis, a subsidiary of Italian oil and gas company Eni, says it is in “the final stages” to acquire the 64% of shares it does not already own in Novamont, an Italian biodegradable plastics producer. Novamont has annual sales of more than $450 million, media reports state. Novamont’s products include Mater-Bi, a biodegradable plastic for applications such as coffee cups and agricultural films. Mater-Bi is made from starch, cellulose, and vegetable oil. Novamont has four production sites and four research centers.