Italian energy giant Eni on Tuesday
started the sale of 10% of engineering unit Saipem's share
capital out of a total of 31.19% owned.
It said the shares being placed are not among those bound by the
shareholders' agreement with government investment bank CDP on
25% of the energy engineering group's capital, which therefore
"will not be subject to change", leaving "joint and equal
control" over Saipem unchanged.
The placement will be handled by Citigroup, Goldman Sachs,
Intesa, Natixis and UniCredit.
Eni has pledged not to sell additional shares of Saipem on the
market for a period of 180 days without the consent of the banks
coordinating the transaction.
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