Eni initiates the sale of 10% of Saipem

Eni has commenced the sale, through an accelerated bookbuilding procedure, of approximately 10% of its capital. The shares subject to the placement are not among those bound by the existing shareholders' agreement between Eni and Cdp Equity, which will not be subject to change, and the joint control over Saipem by virtue of the same1. As of today, Eni owns approximately 31.19% of Saipem's ordinary shares, of which approximately 18.69% are freely transferable and non-syndicated.

The placement will be targeted at institutional investors, and will be executed by a consortium of banks consisting of Citigroup, Goldman Sachs International, Intesa Sanpaolo, Natixis and UniCredit as joint global coordinators and joint bookrunners.

As part of the transaction, Eni agreed with the joint bookrunners not to sell additional shares of Saipem on the market for a period of 180 days without their consent, unless an exemption is granted, as per market practice.