Italy’s Versalis completes acquisition of bioplastics maker Novamont

LONDON (ICIS)–Versalis has acquired the remaining 64% of Novamont’s shares previously held by Mater-Bi for an undisclosed sum, the Italian producer said on Wednesday.

Versalis – energy firm Eni’s chemical business – now holds the entire share capital of the Italian bioplastics maker.

“The acquisition of Novamont will allow us to drive our strategy towards chemistry from renewables through the integration of the two portfolios,” said Versalis CEO Adriano Alfani.

Mater-Bi is a company controlled by private equity funds Investitori Associati II and NB Renaissance.