BBVA advised Eni on the acquisition of a 25% stake in Black Giant Lithium Project

BBVA has acted as Sole Financial Advisor to Eni on the acquisition of a 25% stake in Project Black Giant, the Direct Lithium Extraction (DLE) project developed by EnergyX in Chile. The transaction reflects BBVA's ability to support clients in strategic transactions that bring together different geographies, sectors and specialised capabilities.

As Sole Financial Advisor to Eni, BBVA supported the client throughout the transaction, leveraging its deep understanding of the Chilean market, the mining sector and the critical minerals value chain, together with its extensive experience executing highly complex cross-border M&A transactions. By connecting the United States, Chile and Europe, this transaction highlights BBVA's ability to coordinate multidisciplinary teams and deliver integrated financial advice on strategic international transactions. 

"Our goal is to support clients in their strategic decisions wherever opportunities arise. The collaboration between our teams in Italy, Latin America and Sustainability & Low Carbon Advisory enabled us to provide Eni with comprehensive advice on a complex international transaction in a field that will play a decisive role in the evolution of the energy system" said Tomás García Moreno, Managing Director, Sustainability & Low Carbon Advisory at BBVA CIB.

Growing demand for critical minerals is reshaping investment strategies across the energy sector. In this context, BBVA supports its clients' international growth by helping them access new investment opportunities through advisory services that combine sector expertise, global reach and specialised capabilities.