Eni sells 1% stake in Galp

 Italian oil giant Eni has sold a 1% stake in Portugal’s Galp Energia.

Eni S.p.A. (“Eni”) has completed the disposal through daily sales on the stock exchange of approximately 1% of the share capital of Galp Energia SGPS S.A. (“Galp”), corresponding to the residual stake subject to the right of first refusal of Amorim Energia B.V. (“AEBV”) under the agreement previously disclosed to the market, which has not been exercised by AEBV.

The aggregate consideration of the sales carried out from 5 May to 18 June 2014 amounted to approximately € 107 million. The settlement of the sales has been carried out during the abovementioned period and has been completed yesterday.

Following the sale, Eni holds 66,337,592 ordinary shares corresponding to approximately 8% of Galp’s share capital, entirely underlying the approximately € 1,028 million exchangeable bond issued on 30 November 2012 and due on 30 November 2015.

Related:  Eni reduces stake in Galp Energia

 

Press Release, June 24, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply