Negotiations in final stages for Versalis’ acquisition of Novamont, leader in the chemicals from renewables

Adriano Alfani, CEO Versalis

Versalis, Eni’s chemical company and 36% shareholder of Novamont, and Mater-Bi, a company controlled by Investitori Associati II and NB Renaissance, shareholder of Novamont’s remaining 64%, announce exclusive negotiations to finalise the acquisition by Versalis of Novamont’s entire share package.

Novamont is one of the leading international companies in the chemistry from renewables business, particularly in biodegradable and compostable bioplastics.

Versalis is the first Italian chemical company and an international leader in the sector, whose strategy is strongly aimed at portfolio specialization through chemistry from renewables.

Last March, after the reinforcement of the partnership between Versalis and Novamont, Adriano Alfani, CEO of Versalis commented: The development of chemistry from renewables, of which the Matrica JV represents an important example, is one of the pillars of Versalis’ strategy, in line with the energy transition strategy that Eni is pursuing. This agreement with Novamont is founded in the belief that Italy can play a key role at an international level in the field of chemistry from renewables and the circular bioeconomy. The strengthening of the partnership between Versalis and Novamont combines the great technical and market skills of the two companies, and will accelerate the development of technologies, supply chains and improve competitiveness”.
Novamont – Catia Bastioli, CEO of Novamont, stated – is a pioneer and leader in the biochemicals and bioplastics sector, having contributed to the development of the Italian circular bioeconomy platform and a series of integrated technologies underlying its plants in the territories. This agreement strengthens the synergies between Novamont and Versalis in green chemistry, leveraging on what has been achieved so far to maximize opportunities. The JV Matrìca today represents a chemical platform from renewable sources at an industrial level, with unique plants and products through which will be possible to develop technologies, products and projects in the agricultural, energy and bioproduct sectors. This is particularly relevant at a moment in which Italy is looking to accelerate the energy transition by leveraging sectors in which it can take a leading position”.

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