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.

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.

Eni SpA agreed to sell a 20% holding in its renewable arm Plenitude to Ares Alternative Credit Management for about €2 billion ($2.3 billion), its second sale of a stake in the unit.