Eni: Mef places 2.8% with accelerated procedure. Proceeds of around 1.4 billion

Green light from the Mef for the sale of a 2.8% stake in Eni. The ministry led by Giancarlo Giorgetti has initiated and concluded an accelerated order collection procedure for the sale of 91,965,735 shares of the group led by Claudio Descalzi corresponding, as mentioned, to about 2.8% of the share capital. The deal, the results of which were released late in the evening by the ministry, closes at a price per share of EUR 14.855 for a total amount of around EUR 1.4 billion. The price incorporates a "record" discount of 1.7% compared to the closing price of Eni shares recorded on 15 May (€15.11). Following the transaction, the stake held by Via XX Settembre went from about 4.8% to about 2%.

The transaction was put on track through a consortium of banks consisting of Goldman Sachs International, Jefferies and UBS Europe SE as Joint Global Coordinators and Joint Bookrunners, with the aim of promoting the placement of the shares to qualified investors in Italy and foreign institutional investors.

As part of the deal, the MEF committed to the joint global coordinators and joint bookrunners not to sell any further shares of the company on the market for a period of 90 days without the consent of the joint global coordinators and joint bookrunners and unless exemptions are granted, as per market practice. From a legal perspective, the deal was handled by White & Case (Europe).