A Review of the Nigerian Energy Industry

Italy ‘to sell some of Eni stake’

ENI 112 February 2014, News Wires – Italy’s government is to sell some of its large stake in oil major Eni this year as it looks to raise cash to cut national debt, according to a report.

Economy Minister Fabrizio Saccomanni told a Senate hearing on Wednesday that some shares in the oil and gas player as well as other entities, according to Reuters.

“I think €8 billion ($10.86 billion) to €9 billion is a reliable figure of the overall benefit for the state,” the news wire quoted Saccomanni as saying of intended proceeds from various company stake sales.

The government will also look to offload shares in the postal service, flight control operator ENAV and STMicroelectronics, Reuters added.

The Italian government holds a total of 30.1% in Eni, 4.34% through the Ministry of Economy & Finance and a further 25.76% through Cassa Depositi e Prestiti.


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