Eni Launches Sale of Galp’s Share Capital, Italy

Eni Launches Sale of Galp's Share Capital,

Eni said that it has started, through an accelerated bookbuilding procedure, the sale of 55,452,341 ordinary shares corresponding to approximately 6.7% of the share capital of Galp Energia.

The Shares will be placed with qualified institutional investors with Goldman Sachs and Mediobanca acting as Joint Bookrunners.

By means of the Offering, Eni will complete the sale of its stake in Galp which is freely available for disposal based on the agreement in place with Amorim Energia (the “Agreement‘). In the previous months Eni sold on the stock exchange approximately 1.3% of the share capital of Galp.

Following the sale of the Shares, Eni will hold 16.34% of Galp of which 8% underlying the approximately € 1,028 million exchangeable bond issued on 30 November 2012 and due on 30 November 2015 and 8.34% subject to certain rights exercisable by Amorim Energia under the Agreement previously disclosed to the market.

[mappress]

LNG World News Staff, May 31, 2013; Image: Galp

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