The Italian Economy Ministry, officially known as the Ministero dell'Economia e delle Finanze (MEF), disclosed on Thursday its intention to divest approximately 2.8% of its shareholding in the prominent Italian energy firm Eni S.p.A. (E), amounting to an aggregate sum of around 1.4 billion euros.
The Ministry will be offering 91.97 million ordinary shares of Eni at a price of 14.855 euros per share. This price includes a discount of 1.7% relative to the closing price recorded for Eni's shares on May 15.
The transaction is scheduled for settlement on May 20 and will take place through an "Accelerated Book Building (ABB)" process targeted at qualified investors in Italy and institutional investors globally.
Post-transaction, MEF's ownership in Eni will be reduced from approximately 4.8% to around 2% of the company's share capital.
Goldman Sachs International, Jefferies, and UBS Europe SE served as Joint Global Coordinators and Joint Bookrunners for this deal. Legal advisory services were provided by White & Case (Europe) LLP.
This sale concludes a transaction that was part of a buy-back programme initiated by the company earlier.
As of the latest trading session in Milan, Eni shares were priced at 14.68 euros, reflecting a decline of 2.83%.
