Ferrara land reclamation forms an alliance with Eni e Understanding St. Paul. This was announced by the BF group in a note, explaining that the three companies have signed an agreement to start a strategic collaboration, with the sale of a stake in the capital of Bonifiche Ferraresi to Eni and Intesa.
The Board of Directors of BF has also convened an ordinary and extraordinary meeting for next 21 December.
The investment in the share capital of BF by Eni and Intesa – which will each offer 20 million euros – will take place through reserved capital increases, at the end of which the two companies will each have 3,32% of Bonifiche Ferraresi.
Furthermore, Eni and Bf have set up an equity joint venture with various objectives:
- the carrying out of research, experimentation and analysis by BF or companies of the BF group on seeds of oil plants in order to be able to use them as feed-stock for ENI bio-refineries;
- the evaluation of the possibility of economically producing the same seeds in the countries where ENI is present;
- the possibility of developing pilot projects in one or more of the countries where ENI is present
- the training of ENI or joint venture personnel who can be used in the development chains of biofeedstock projects.
