Italian energy group Eni SpA is nearing a deal to acquire oil and gas explorer Neptune Energy Group Ltd. for about $5 billion, according to people familiar with the matter.
Eni could announce a deal as soon as this week for private equity-backed Neptune, said the people, who asked to not be identified because the discussions are private. Eni beat out suitors including TotalEnergies SE for the asset, the people said.
No final decision has been made and the timing of the deal could change, or talks could still fall through, the people added. Neptune is backed by Carlyle Group Inc. and CVC Capital Partners.
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