Deals
Eni Sells Remaining Galp Stake as Oil Company Disposes of Assets
- Stake sale in Portuguese oil company worth $347 million
- Restructuring continues after disposal of stake in Saipem
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Eni SpA sold its remaining 4 percent stake in Galp Energia SGPS SA as the Italian oil producer disposes of assets that aren’t part of its main business.
Eni raised 325 million euros ($347 million) by selling 33.1 million shares of Portugal’s biggest oil company at 9.81 euros apiece to institutional investors, the Rome-based company said in a statement on Friday.