Eni reaffirms current strategy

Fuente: Financial Times

 

 

Eni reaffirms current strategy

 

The strategy of Eni, the Italian oil and gas company partially owned by the state, has not changed as a result of the government's recent nomination of a new board and chairman, nor has there been any state interference in Eni's operations, chief executive Vittorio Mincato said yesterday.

 

Mr Mincato was given another three-year term last month, quashing market worries that the government was seeking to replace him and alter a strategy that had seen the company's earnings grow rapidly.

 

Mr Mincato, speaking for the first time in public since his mandate was renewed, also said the company would continue to look for mid-sized acquisitions in the oil and gas sectors.

 

He said Eni would conclude the joint purchase of a controlling stake in Gasversorgung Sud-deutschland, a German gas distributor, today or tomorrow.

 

Eni and EnBw of Germany will together pay €720m, he said. Fred Kapner, Milan