ENI Completes the Sale of 1% of Galp's Share Capital

Source Press Release
Company ENI S.p.A.Galp Energia 
Tags Corporate Deals, Deals, Refining & Marketing Activities, Pipelines/ tankers/ distribution, LNG & Gas Storage/Processing, Upstream Activities
Date June 23, 2014

The aggregate consideration of the sales carried out from 5 May to 18 June 2014 amounted to approximately € 107 million.

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 today.

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.

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