Italy Plans to Sell €2 Billion Eni Stake to Reduce Debt
- Government aims to sell 4% of oil company, people familiar say
- Move is part of government’s €20 billion privatization drive
An Eni gas station in Rome.
Photographer: Alessio Paduano/BloombergThis article is for subscribers only.
Italy’s government is planning the sale of up to 4% of Eni SpA after the oil company completes a buy-back plan, a deal which would allow Rome to reduce its mammoth debt.
Prime Minister Giorgia Meloni’s administration aims to gain about €2 billion ($2.2 billion) from the sale of the stake, as part of its privatization push, according to people familiar with the matter who asked not to be named on a confidential issue. The proposals are still being worked out and could change.