Italian oil firm Eni nears takeover of Neptune Energy

June 21, according to people familiar with the matter, Italian oil company Eni Group is close to reaching a deal to acquire oil and gas exploration company Neptune Energy for about US$5 billion.

Eni, which beat out bidders including Total Energy, could announce the deal as early as this week, the people said. However, no final decision has been made and the timing of the deal could change or talks could still fail, the people added.