Eni: Mef locations 2.8% with accelerated process. Proceeds of roughly 1.4 billion | EUROtoday

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Green mild from the MEF for the sale of a 2.8% stake in Eni. The ministry led by Giancarlo Giorgetti has began and concluded an accelerated order assortment process for the sale of 91,965,735 shares of the group led by Claudio Descalzi corresponding, as talked about, to roughly 2.8% of the share capital. The operation, the outcomes of which had been launched late within the night by the ministry, closes at a worth per share of 14.855 euros for a complete quantity of roughly 1.4 billion euros. The worth incorporates a “record” low cost of 1.7% in comparison with the closing worth of Eni shares recorded on May 15 (15.11 euros). Following the operation, the share held by Via XX Settembre elevated from roughly 4.8% to roughly 2%.

The banking consortium

The operation was placed on observe by means of a consortium of banks made up of Goldman Sachs International, Jefferies and UBS Europe SE as Joint Global Coordinators and Joint Bookrunners, with the purpose of selling the location of the shares with certified buyers in Italy and overseas institutional buyers.

The Mef's dedication

As a part of the operation, the Mef has undertaken with the joint international coordinators and joint bookrunners to not promote additional shares of the corporate in the marketplace for a interval of 90 days with out the consent of the joint international coordinators and joint bookrunners and apart from exemptions, corresponding to from market practices. From a authorized standpoint, the deal was adopted by White & Case (Europe).