European Commission OKs Novamont’s Purchase by Eni Unit Versalis

In April the Eni’s chemical company and a shareholder of Novamont (36%) and Mater-Bi – a company controlled by Investitori Associati II and NB Renaissance – signed an agreement for Versalis to acquire the remaining 64% of Novamont’s shares currently held by Mater-Bi. Novamont is a leading international company in the field of chemistry from renewable sources.

Versalis is the largest Italian chemical company and leader at an international level, whose strategy hinges on its product portfolio specialization, including the chemistry from renewables. Novamont is a B Corp-certified Benefit company and a leading player in the circular bioeconomy sector, as well as a leader in the market for biodegradable and compostable bioplastics and biochemicals. Its acquisition represents a great opportunity for Versalis to accelerate its strategy through the integration of a technological platform which is both unique and complementary. This will significantly contribute to the decarbonization of Versalis’ product portfolio.

The deal strengthens the Novamont platform by accelerating the growth of high value-added, multi-product supply chains and local projects. The goal is decoupling the use of natural resources from economic growth so as to keep doing more with less.