ENI Sells Remaining Galp Stake

Monday, November 23, 2015

ENI sold its remaining stake in Galp Energia, its last 4% in the Portuguese company. The Italian firm originally held a 33.34% stake in Galp. The aggregate consideration of the sale amounted to approximately €325 million at a price of €9.81 per Share.

The accelerated bookbuilding procedure was aimed at qualified institutional investors. ENI engaged Goldman Sachs International and Merrill Lynch International as Joint Bookrunners for the sale.

ENI announced its intention to sell the stake on November 19 and the transaction will be settled on November 24 by delivery of the shares and payment of the consideration to ENI.

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