Eni Sells 7% of Galp Energia for €702.4 Million

Italy’s Eni has completed the sale of 7% of the share capital of Portugal’s Galp Energia for a total of € 702.4 million.

‘Following the settlement of the sale, Eni will hold approximately 9% of Galp's share capital,’ reads a note released by Galp Energia on Friday.

Eni has engaged Goldman Sachs and Mediobanca as joint bookrunners for the sale.

‘The offering, carried out through an accelerated bookbuilding procedure aimed at qualified institutional investors, was priced at € 12.10 per share,’ explains the press release.