Italian Economy Ministry Places Around 2.8% Stake In Eni For EUR 1.4 Bln; Stock Down

(RTTNews) - The Italian Economy Ministry, the Ministero dell'Economia e delle Finanze or MEF, announced Thursday the sale of approximately 2.8 percent of the share capital of Italian energy major Eni S.p.A. (E) for a total amount equal to around 1.4 billion euros.

The Ministry will sell 91.97 million ordinary shares of Eni for 14.855 euros per share. The price incorporates a discount of 1.7 percent compared to the closing price of the company's shares recorded on May 15.

The settlement of the transaction will be on May 20. The sale will be by means of an "Accelerated Book Building - ABB" reserved to qualified investors in Italy and international institutional investors.

Following the deal, the stake held by MEF in Eni will decrease to approximately 2 percent of the share capital from approximately 4.8 percent.

Goldman Sachs International, Jefferies and UBS Europe SE acted as Joint Global Coordinators and Joint Bookrunners. White & Case (Europe) LLP acted as legal advisor.

With the deal, MEF completes a transaction that was planned after a buy-back programme of the Company.

In Milan, Eni shares were trading at 14.68 euros, down 2.83%.