Eni launches the sale of 10% of Saipem's share capital

San Donato Milanese, 11 June 2024 – Eni S.p.A ("Eni") announces that it has started the sale, through an accelerated bookbuilding procedure, of 199,556,000 ordinary shares of Saipem S.p.A. ("Saipem") representing approximately 10% of the share capital.

The shares to be placed are not among those covered by the existing shareholders’ agreement between Eni and CDP Equity S.p.A. which will not be amended and, therefore, the joint control of Saipem pursuant to such agreement will remain unchanged[1]. Eni currently holds approximately 31.19% of the ordinary shares of Saipem, of which approximately 18.69% are freely transferrable and are not syndicated shares pursuant to the shareholders’ agreement.

The placement will be aimed at institutional investors and will be executed by a consortium of banks consisting of Citigroup, Goldman Sachs International, Intesa Sanpaolo, Natixis and UniCredit which are acting as Joint Global Coordinators and Joint Bookrunners.

In the context of the transaction, Eni agreed with the Joint Bookrunners not to sell additional shares of Saipem on the market for a period of 180 days, subject to waiver by the Joint Bookrunners and customary exceptions in line with market practice.

The final terms of the transaction will be communicated upon completion of the placement.

  • (1) As is known, Eni S.p.A. and CDP Equity S.p.A. have entered into a shareholders' agreement relating to the ordinary shares of Saipem S.p.A. Further information is available on the websites of Saipem S.p.A. and Consob.

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