MILAN (Reuters) -U.S. asset manager BlackRock’s infrastructure fund GIP has agreed to buy a 49.99% stake in Eni’s carbon capture and storage business (CCUS), the Italian company said on Monday without disclosing the price.

The proposed deal is part of Eni’s broader strategy to sell minority stakes in satellite operations to fund their growth.

Eni CCUS Holding includes the HyNet and Bacton projects in Britain and L10 in the Netherlands. It also has future rights to acquire Italy’s carbon capture project in Ravenna.

(Reporting by Francesca LandiniEditing by David Goodman)

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