Eni Continues Disposal of Shares in Galp Energia

Italy’s Eni completed the sale of 1% of Galp Energia through daily sales, following the recent disposal of 7% of the share capital of the Portugal-based company for a total of € 702.4 million.

‘The aggregate consideration of the sales carried out from 5 May to 18 June 2014 amounted to approximately € 107 million,’ reads a note released on Tuesday. 

After the sale, Eni still holds approximately 8% of Galp’s share capital.  

‘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.’