(Finance) – Green light for Ministry of Economy and Finance to the sale of some shares of Eni. The Mef has announced that it has started an accelerated order collection procedure – “Accelerated Book Building – ABB” – for the sale of n. 91,965,735 ordinary shares Of Eni corresponding to approximately 2.8% of the Company’s share capital. At current stock market values, the sale would guarantee a collection of approximately 1.4 billion euros.
The Mef announced that it had given a mandate for the operation to a banking consortium established by Goldman Sachs International, Jefferies and UBS Europe SE as Joint Global Coordinators and Joint Bookrunners, “with the aim of promoting the placement of shares with qualified investors in Italy and foreign institutional investors”, reads the note.
“As part of the operation, the MEF has undertaken with the Joint Global Coordinators and Joint Bookrunners not to sell 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 themselves and unless exempted, as per market practice – continues the press release – I terms finals of the operation will be communicated at the end of the placement”.