Eni sells 7pc in Galp Energia for 702.4mn euros

MILAN: Italian energy group Eni said on Friday it had sold a 7 percent stake in Galp Energia for 702.4 million euros ($965 million) via an accelerated bookbuilding offered to institutional investors.

The offering was priced at 12.10 euros per share, the company said in a statement.

After the transaction, Eni will hold around 9 percent of Galp, it said.

Eni Chief Executive Paolo Scaroni has said on several occasions the company does not want to remain invested in listed companies it does not control.