-- Eni (ENI.MI) will invest $70 million in Canadian graphite miner and refiner Nouveau Monde Graphite's capital increase, according to a Friday release.
The investment is expected to provide the Italian energy company with an 11.5% stake and a board seat in the company. The deal is subject to approval at Nouveau Monde Graphite's annual general meeting scheduled in the second half of May.
The deal will also allow Eni to negotiate for exclusive graphite and active anode material supply agreements.