Italy sells shares in energy giant to reduce debt

Breakings ·  May 16 18:32
The Italian government said on the 15th that it has sold 2.8% of its shares in the energy company ENI. Agence France-Presse reports that the above shares were subscribed by institutional investors from Italy and abroad, and the transaction price was 14.85 euros per share, 1.7% less than the closing price of ENI shares on the 15th. Bloomberg News reported that overseas investors participating in the deal included UBS Group, the US Goldman Sachs Group, and the US Jefferies Group. The market value of Eni is 49 billion euros. Agence France-Presse reports that after the transaction was completed, the Italian government's direct shareholding ratio fell to 2%. The Italian government also holds an additional 28.5% of ENI's shares through the state-owned Savings and Credit Bank. The report said that Italian Prime Minister Giorgia Meloni hopes to raise 20 billion euros by 2026 to reduce Italian government debt by selling shares held by the government. (Xinhua News Agency)

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