Eni reduced its stake in the capital of Snam from 8,537% to 4,966%. This is what emerges from the Consob communications on significant equity investments.
The operation took place on 28 December and is linked to the conversion of the Eni convertible bond into Snam shares worth 1,25 billion maturing in January 2016. According to the information available to date, around half of the investors therefore preferred to keep the Snam shares.
Until three years ago, Eni held almost 55% of the company specialized in gas transport. Then the quota was gradually reduced. The largest sale took place in May 2012, when the oil giant sold 30% less one share of Snam to CDP.
Also in July 2012, another 5% was sold with an accelerated placement, while in January 2013, the aforementioned convertible bond was placed on 8,54% of the capital maturing in these days. Finally, in May 2013, another 11,7% was sold on the market.
