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Other information

12 Months Ended

Dec. 31, 2022

27 Other information

Supplemental cash flow information

(€ million)	2022		2021		2020
Investment in consolidated subsidiaries and businesses
Current assets	147		262		15
Non-current assets	2,463		2,698		193
Net borrowings	(541	)	(486	)	(64	)
Current and non-current liabilities	(366	)	(349	)	(17	)
Net effect of investments	1,703		2,125		127
Fair value of investments held before the acquisition of control	(21	)	(99	)
Non-controlling interests	(15	)	(4	)	(15	)
Purchase price	1,667		2,022		112
Cash and cash equivalents acquired	(31	)	(121	)	(3	)
Consolidated subsidiaries and businesses net of cash and cash equivalent acquired	1,636		1,901		109

Disposal of consolidated subsidiaries and businesses
Current assets	1,377		2
Non-current assets	8,618
Net borrowings	(2,085	)
Current and non-current liabilities	(2,351	)
Net effect of disposals	5,559		2
Current value of the stake held for business combinations	(5,726	)
Reclassification among other items of OCI	(918	)
Gain on disposal of business combinations	2,704
Credits for divestments	(1,609	)
Selling price	10		2
Cash and cash equivalents sold	(70	)
Consolidated subsidiaries and businesses net of cash and cash equivalent disposed of	(60	)	2

Business combination Unión Fenosa Gas
Investment in Unión Fenosa Gas sold			232
Investments and businesses acquired
Current assets			370
Non-current assets			378
Net borrowings			(128	)
Long-term and short-term liabilities			(420	)
Total investments and businesses acquired			200
Total net disposals			32
Cash and cash equivalents acquired			42
Business combination Unión Fenosa Gas net of cash and cash equivalent acquired			74

Consolidated subsidiaries and businesses net of cash and cash equivalent disposed of	(60	)	76

Investments and disposals in 2022 are disclosed in note 5 – Business Combinations and other significant transactions.

Investments in 2021 concerned: (i) the acquisition of a 100% stake of Aldro Energía y Soluciones SLU (now Eni Plenitude Iberia SLU) active in the market for the sale of power, gas and services in the retail business with a portfolio of around 250 thousand customers mainly in Spain and Portugal; (ii) the acquisition of a 100% stake of the company FRI-EL Biogas Holding (now EniBioCh4in SpA) active in the sector of power production from bioenergy with 21 plants each with a nominal power of 2 megawatts. The acquired assets include a plant for the treatment of OFMSW - the Organic Fraction of Municipal Solid Waste; (iii) the acquisition from Glennmont Partners and PGGM Infrastructure Fund of a portfolio of thirteen operating onshore wind farms, with a total capacity of 315 MW; (iv) the acquisition of Dhamma Energy Group, owner of a pipeline of photovoltaic plant in France and Spain at various stages of maturity of approximately 3 GW, as well as plants in operation or under construction with a capacity of approximately 120 MW; (v) the acquisition from Azora Capital of a portfolio of nine renewable energy projects consisting of three wind farms in operation and one under construction for a total of 234 MW and five photovoltaic projects in an advanced stage of development for approximately 0.9 GW; (vi) the acquisition of control of Finproject by exercising the call option on the remaining 60% of the share capital, after the initial investment of 40% made in 2020; (vii) a 100% stake in Be Power, acquired by Zouk Capital and Aretex, companies active in the segment of charging infrastructure for power mobility with about 6,000 charging points, the second largest operator in Italy, with which it was a co-branding agreement for the Be Charge charging stations is in place.

Disposals in 2021 related to the restructuring of the joint venture Unión Fenosa Gas SA following the agreements with the authorities of the Arab Republic of Egypt (ARE) and the Spanish partner Naturgy for the resolution of all outstanding issues of the joint venture with Egyptian partners which resulted in an overall cash adjustment for the benefit of Eni, represented in the disposals.

Investments in 2020 related to the acquisition by Eni gas e luce SpA Società Benefit (now Eni Plenitude SpA Società Benefit) of a 70% controlling stake in Evolvere, a group operating in the business of distributed generation from renewable sources for €97 million, net of acquired cash of €3 million, and to the acquisition by Eni New Energy SpA of the whole capital of three companies holding authorization rights for the construction of three wind projects in Puglia for €12 million.

Business combinations and other significant transactions

The provisional and definitive price allocation of the net assets acquired in 2021 is shown below:

(€ million)	FRI‐EL Biogas Holding (now EniBioCh4in SpA) Provisional allocation		FRI‐EL Biogas Holding (now EniBioCh4in SpA) Definitive allocation		Portfolio of thirteen on-shore wind facilities Provisional allocation		Portfolio of thirteen on-shore wind facilities Definitive allocation		Dhamma Energy Group Provisional allocation		Dhamma Energy Group Definitive allocation		Portfolio of nine renewable energy projects Provisional allocation		Portfolio of nine renewable energy projects Definitive allocation		Be Power Provisional allocation		Be Power Definitive allocation
Current assets	23		23		32		31		2		3		7		7		22		22
Property, plant and equipement	38		144		423		209		119		94		57		21		29		29
Goodwill	80		9		302		307		120		124		81		79		728		718
Current and non current assets	15		15		43		252		15		33		25		68		10		22
Cash and cash equivalent (Net borrowings)	(14	)	(14	)	(215	)	(214	)	(101	)	(97	)	(32	)	(38	)	9		10
Current and non current liabilities	(9	)	(44	)	(100	)	(100	)	(12	)	(11	)	(20	)	(21	)	(34	)	(37	)
Net effects of investments	133		133		485		485		143		146		118		116		764		764
Non-controlling interests	(1	)	(1	)					(3	)	(3	)
Total purchase price	132		132		485		485		140		143		118		116		764		764