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Cassa Depositi e Prestiti Spa (Cdp) announces that between 7 August 2012 and 13 September 2012, it sold on the Italian regulated stock market 61,744,750 ENI Spa shares, equal to 1.7% of the company’s share capital, for a total of €1.096 bln. As a result, Cdp’s equity interest in ENI decreased to 994,434,728 shares, equal to 27.36% of share capital.
The disposal was carried out at an average price of €17.76% per share, representing a premium of about 3 eurocents per share compared with the average market price over the period, weighted by volumes traded. Fees payed amount to 1.5 basis point on the transaction value.
The daily volumes sold by Cdp have never exceeded 30.5% of total daily volumes exchanged in the market.
JP Morgan Securities Plc acted as the intermediary in the transaction. The sales provide Cdp with part of the financing needed for the acquisition from ENI of 30% less 1 share of the share capital of SNAM Spa. As already announced on 30 May this year, Cdp would finance that acquisition in part with the sale of a maximum number of ENI shares owned by Cdp itself that, together with those held by the Ministry for the Economy and Finance, exceed 30% plus 1 share of the ENI share capital. The total number of ENI shares being sold by Cdp, including shares already sold, as above described, represent 3.3% of the share capital. Cdp will dispose of the remaining stake of 1.6% of ENI (58,255,250 shares) in the manner and with the timing it deems most appropriate.
Rome, 13 September 2012
This press release is not for release, publication or distribution, directly or indirectly, in the United States, Canada, Australia or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as defined in the Securities Act) absent an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of the securities described herein in the United States.