Italiana Petroli Draws Bidding Interest from SOCAR, Gunvor, and Bin Butti
Deal News | May 27, 2025 | Zawya
State Oil Company of Azerbaijan (SOCAR), global commodity trader Gunvor, and Abu Dhabi's Bin Butti Group are set to submit binding offers for Italiana Petroli (IP) next week. The Italian oil refiner, which is owned by the Brachetti Peretti family, has a refining capacity of about 200,000 barrels per day and a network of 4,600 fuel stations. UniCredit is advising IP on the sale. SOCAR is currently perceived as the leading contender for the acquisition, which is valued between 2.3 and 2.5 billion euros. The bidding process has seen SOCAR and Gunvor in the race longer than Bin Butti, which has recently joined. Previously, Glencore was also mentioned as a potential bidder. The report follows coverage by Reuters and the Italian daily la Repubblica.
Sectors
- Oil & Gas
- Investment Banking
- Commodities Trading
Geography
- Italy – The target company, Italiana Petroli, and its operations are based in Italy, making this geography relevant.
- Azerbaijan – SOCAR, a participant in the bidding, is based in Azerbaijan, adding to the geographic context.
- United Arab Emirates – Bin Butti Group, involved in the bid, is based in Abu Dhabi, UAE, which is relevant to the geographical scope of the article.
Industry
- Oil & Gas – The article is primarily about the potential sale of Italiana Petroli, an oil refining company, indicating its relevance to the Oil & Gas industry.
- Investment Banking – UniCredit is advising Italiana Petroli on the potential sale, aligning the article with the Investment Banking industry.
- Commodities Trading – The involvement of Gunvor, a global commodity trader, highlights the article's relevance to the Commodities Trading industry.
Financials
- 2.3 billion to 2.5 billion euros – Estimated valuation range for Italiana Petroli in the potential sale.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Italiana Petroli (IP) | Target Company | Company | An Italian oil refiner owned by the Brachetti Peretti family, with a refining capacity of 200,000 bpd and 4,600 fuel stations. |
| SOCAR | Potential Bidding Company | Company | State Oil Company of Azerbaijan, a key player in the oil and gas industry, considered a leading contender in the bidding process. |
| Gunvor | Potential Bidding Company | Company | A global commodity trading company involved in the bidding process for Italiana Petroli. |
| Bin Butti Group | Potential Bidding Company | Company | An Abu Dhabi-based company that recently entered the bidding race for Italiana Petroli. |
| UniCredit | Financial Advisor | Company | An investment bank advising Italiana Petroli on its potential sale. |
| Brachetti Peretti family | Owner | People | Wealthy Italian family that owns Italiana Petroli. |