Eni to Offer Assets in Return for Suez-Stake in Distrigaz

Italian energy major Eni’s CEO, Paolo Scaroni, has stated that the company will offer assets in exchange for a 57% stake in the Belgian gas distribution company, Distrigaz, according to Reuters.

Eni said that it was on the shortlist as a potential buyer for the 57% stake being offloaded by French energy major Suez. Eni’s initial offer was reportedly in cash, but Suez preferred to receive assets in return for its stake.

Suez is offloading its stake in Distrigaz as a pre-condition to its merger with Gaz de France. Other potential buyers for the stake include European energy majors EDF and E.ON.

Mr Scaroni noted that Eni has offered a number of assets that could be of interest to Suez. Eni has reportedly made the best offer out of all the potential buyers, winning the favor of the Belgian government, according to Belgian press reports.