Eni said that it has started, through an accelerated bookbuilding procedure, the sale of 58,051,000 ordinary shares corresponding to approximately 7% of the share capital of Galp Energia, in respect of which Amorim Energia (AEBV) has not exercised its right of first refusal under the agreement previously disclosed to the market.
The Shares will be placed with qualified institutional investors with Goldman Sachs and Mediobanca acting as Joint Bookrunners.
Over the last few months Eni has sold on the stock exchange approximately 0.34% of the share capital of Galp, in respect of which AEBV has not exercised its right of first refusal.
Following the completion of the Offering, Eni will hold approximately 9% of Galp’s share capital, of which 8% underlying the approximately € 1,028 million exchangeable bond issued on 30 November 2012 and due on 30 November 2015 and approximately 1% subject to the right of first refusal exercisable by AEBV.
The proceeds from the offering will be used for general corporate purposes.
Press Release, March 28, 2014; Image: Galp