20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Eni S.p.A. (NYSE:E) shares are trading lower today. The company reportedly plans to sell minority stakes in its biofuel and bio-plastic units by year-end.
The Italian energy group expects the divestiture to garner EUR1.3 billion, reported Reuters.
As per the report, Eni has started preliminary discussions with funds and industrial investors to find a partner interested in a stake of up to 10% in biofuel unit, Enilive.
Enilive could be valued at EUR10 billion or more, including debt. Eni could also consider listing Enilive through an initial public offering or a spin-off, said the report.
Apart from this, Eni is also in talks with two suitors to sell up to 30% of its bio-plastic business, Novamont, which could valued at around EUR1 billion (including debt).
Read: IEA Forecasts Slowdown In Oil Demand, Contrasts Positive Outlook By OPEC+
As per the report, Eni aims to set up separate entities – called “satellite” companies – that can tap specialized investors to help it fund greener businesses without sapping resources for oil and gas activities.
Also Read: Italian Energy Company Eni Picks SLB For Global Methane Emissions Reporting Project
Investors can gain exposure to the stock via Pacer Developed Markets International Cash Cows 100 ETF (BATS:IDGT) and AdvisorShares Dorsey Wright ADR ETF (NASDAQ:AADR).
Price Action: Eni shares are down 1.4% at $32.40 premarket on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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