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Eni and Intesa invest in the Bonifiche Ferraresi holding

A strategic agreement has also been signed with Eni joining the agricultural company

Eni and Intesa Sanpaolo enter the capital of Bf Spa, the listed holding that controls the agricultural company Bonifiche Ferraresi, the Italian seed company, the Le Stagioni d'Italia brand and IBF Servizi. The announcement was made after a board of directors of Bf Spa on November 19th. The investment in the share capital of BF by Eni and Intesa will take place through a reserved capital increase, at the end of which the two companies will each hold 3.32% of the share capital of Bf, against an investment of 20 million euro each.

In addition, as part of the transaction, Eni also purchases a minority stake in the share capital of the operating company Bonifiche Ferraresi, equal to 5% of its share capital, against the payment of a price of an additional 20 million euros. The purchase allows Bf to recognize a capital gain of approximately 6.7 million.

Finally, the collaboration with Eni is not limited to the entry into the capital of Bf and the subsidiary Bonifiche Ferraresi: the agreement signed will also give rise to an equal equity joint venture between Eni and Bf which will have agricultural research and experimentation projects as its object. of seeds for biofuels destined for the biorefineries of the oil giant.

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EFA News - European Food Agency