ENI Launches the Sale of 11.69% of Snam's Share Capital

Source Press Release
Company ENI S.p.A. 
Tags Strategy - Corporate
Date May 08, 2013

Eni S.p.A ("Eni") announces that it has started, through an accelerated bookbuilding procedure, the sale of 395,253,345 shares equal to 11.69% of the share capital of Snam S.p.A ("Snam") (the “Offering‘).

The Snam shares will be placed with qualified Italian and international institutional investors. 
JP Morgan and Unicredit are acting as joint bookrunners for the Offering.

Eni expects to announce the final terms of the Offering upon completion of the bookbuilding during the course of tomorrow.

Following the sale of 395,253,345 shares of Snam, Eni will hold a 8.54% of the company underlying the € 1,250 million convertible bond placed on 18 January 2013 and due on 18 January 2016.

The proceeds from the Offering will be used for general corporate purposes.

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