Eni Sells Remaining Stake In Galp

Reuters

MILAN, Nov 20 (Reuters) - Eni has sold its remaining 4 percent stake in Portugal's Galp Energia raising 325 million euros ($348 million), the Italian oil and gas group said on Friday.

Eni sold the shares through an accelerated bookbuilding procedure at a price of 9.81 euros each. That compares with Galp's Thursday closing price of 10.065 euros.

Eni started selling down its 33.34 percent stake in Galp in 2012 and has raised a total of 3.28 billion euros from the disposal.

(Reporting by Valentina Za; Editing by Subhranshu Sahu)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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