Eni Said to Add Six Banks for IPO of $11 Billion Renewables Unit

Eni SpA has picked six more banks to work on the initial public offering of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion), according to people familiar with the matter.

The Italian energy giant has hired Barclays Plc, Bank of America Corp., BNP Paribas SA, Deutsche Bank AG, Equita Group SpA and UniCredit SpA as bookrunners for the Milan IPO, which could kick off as soon as May, the people said.

Eni could look to raise as much as 2.3 billion euros from the listing, which would ...