Enel completed the sale of 5,1% of Terna (102.384.037 shares). The group led by Fulvio Conti collects 281 million with a capital gain of 178 million euros on a consolidated basis, net of accessory charges. The sale involved the total stake held by Enel in Terna. The operation, launched in the late afternoon yesterday, was carried out through an accelerated bookbuilding procedure aimed at Italian and foreign institutional investors and closed with a final assignment price of 2,74 euros per share.
Terna's share on the stock market today stands at 2,772 euros, down 0,72%, while Enel drops by 1,47% to 3,078 euros (the Ftse Mib loses 0,65%). The transaction will be settled through delivery of the securities and payment of the consideration on 7 February 2012. The energy group was assisted by Banca IMI, JP Morgan, Mediobanca and UniCredit as joint bookrunner.
