Eni sells stake in Galp

Offshore staff

MILAN, Italy Eni has sold its remaining 4% stake in Portugal’s Galp Energia raising €325 million ($348 million), Reuters reported.

Eni sold the shares through an accelerated book building procedure at a price of €9.81 ($10.45) each. That compares with Galp’s Thursday closing price of €10.065 ($10.72).

Eni started selling down its 33.34% stake in Galp in 2012 and has raised a total of €3.28 billion ($3.5 billion) from the disposal.


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