Italy's antitrust authority said on Tuesday it had imposed fines exceeding 32 million euros ($37 million) on energy company Eni and its plastics unit Novamont for abusing a dominant market position in the production of plastic bags.

E sells 20% of Plenitude to Ares for 2B euros, valuing the unit at 10B euros and advancing its energy transition strategy.

Eni has sold a 20 per cent stake in its renewable business Plenitude to Ares for approximately $2.3 billion. This marks Eni's second sale of Plenitude shares, an enterprise valued at over $13.7 billion.