05:24 AM EDT, 07/18/2025 (MT Newswires) -- (Updates with Eni's response in the fifth paragraph.)

Eni's (E) carbon capture and storage unit is likely to be valued at about 1 billion euros ($1.16 billion) as the Italian energy major continues to negotiate a deal with BlackRock ( BLK ) to sell nearly half of the unit, Bloomberg News said Thursday, citing people familiar with the matter.

Eni has been in exclusive talks with BlackRock ( BLK ) to sell a 49.99% stake in CCUS Holding since May, the people said, adding that the discussions are ongoing and valuations can still change, according to the report.

If a deal is reached between the two companies, which the people said may happen by the end of summer, it would represent another step in Chief Executive Officer Claudio Descalzi's plan to reduce risk by spinning off units while maintaining a stake, the report said.

In June, Eni sold a 20% stake in its renewable arm Plenitude to Ares Alternative Credit Management (ARES) for about 2 billion euros, Bloomberg reported.

An Eni spokesperson declined to comment, while BlackRock ( BLK ) did not immediately respond to MT Newswires' request for comment.

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