Eni SpA's chemical subsidiary Versalis is in exclusive negotiations to finalise the acquisition of Italian bioplastics manufacturer Novamont.
Versalis currently holds a 36% stake in the bioplastics manufacturer, and is now seeking to acquire the remaining 64% of the shares in the company from Mater-Bi. Mater-Bi is controlled by the private equity funds NB Renaissance, Investitori Associati and other private investors.
Financial details have not been disclosed.
Founded in Novara in 1989, Novamont is a leading player in the bioplastics sector and in the development of biochemicals. Comprising four production sites, four research centres, sales offices in Germany, France, Spain and the United States, and a representative office in Brussels, Belgium, Novamont currently boasts a portfolio of around 1,800 patents and patent applications. In 2021, the company acquired BioBag International, a leading global group in the development, production and marketing of certified biodegradable and compostable applications, headquartered in Askim (Norway), with a production plant in Dagö (Estonia) and a presence in 9 other countries worldwide. Novamont is a certified B Corp.
Versalis to acquire 100% of shares in biopolymer producer Novamont
