Eni working with Goldman Sachs on gas and power spinoff

MILAN: Italian oil and gas group Eni is working with Goldman Sachs on the possible spinoff of its power and gas unit, two sources with knowledge of the matter said on Thursday.

"The group is reviewing the division and Goldman Sachs is working with them," one of the sources said.

The perimeter of the carve-out is still being discussed, a second source said.

"An IPO (initial public offering) is the only way to do it, but it's unlikely to happen this year," the source said. Eni declined to comment, while Goldman Sachs could not immediately be reached.