Italy: Eni Sells 5 Percent of Snam

Eni of Italy announced that it has concluded the sale of 178,559,406 shares equal to 5% of share capital of Snam S.p.A, corresponding to 5.28% of the voting shares.

The total consideration amounted to 612.5 million euro. The deal, carried out through an accelerated bookbuilding procedure aimed at Italian and foreign institutional investors, closed at a final assignment price of 3.43 euro per share and will be settled by delivery of shares and payment of the consideration on 23 July 2012.

Eni has engaged Goldman Sachs as Sole Bookrunner for the transaction.

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LNG World News Staff, July 18, 2012