Eni completes sale of Galp Energia stake

Eni of Italy said on Friday that it has completed the sale of the remaining 4 percent stake it held in Portuguese oil and gas operator, Galp Energia.

The sale of 33,124,670 shares amounted to approximately €325 million at a price of €9.81 per share, Eni informed in a statement.

The transaction will be settled on November 24, 2015, by delivery of the shares and payment of the consideration to Eni.

Following the completion of the sale, Eni will not hold any participation in Galp’s share capital.

The entire initial 33.34% stake has been sold in several transactions starting from 2012, for a total consideration of €3,283 million.

 

Image: Galp Energia

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