Italian oil giant Eni sells 10% Saipem stake for $420M, retaining 21.19%, supporting transition to gas and renewable energy.
Italian oil giant Eni has sold a 10% stake in offshore drilling services firm Saipem for around $420 million (€393 million). The transaction was conducted through an accelerated bookbuilding process, with Eni retaining roughly 21.19% of Saipem's share capital. The sale aims to support Eni's transition to gas and renewable energy. Eni will not sell additional Saipem shares for 180 days, subject to waiver and market exceptions.
June 11, 2024
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