ENI Signs Preliminary Agreement with Gita for Syndial Assets

The sale of Vinyls Italia, the troubled manufacturer of polyvinyl chloride (PVC) and vinyl chloride monomer (VCM), has still to be concluded, despite hopes expressed late last year by Italy’s minister for economic development, Paolo Romani, that investment fund Gita Holding (Zurich) would have agreed on a deal by now. Some progress has been made, however. Gita has created an entity, Vinyls Group, as a vehicle for the takeover, and at the beginning of March that company signed a preliminary contract with Syndial (Milan), a subsidiary of energy company ENI...

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