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Eni ready to sell Galp to Angolan Sonangol

The Italian energy giant appears poised to sell its 33,34% stake in Portugal's Galp to Angola's national oil group.

Eni ready to sell Galp to Angolan Sonangol

Eni could sell a share of its stake in Galp, a Portuguese energy company considered non-strategic by the Six-legged Dog, to Angola's national oil group, Sonangol. The rest could be sold to financial investors. Bloomberg reports.

The negotiations would concern only a part of the stake (33,34%, for a value of 3,7 billion euros according to estimates by Eni itself) because the Portuguese government would be against an excessive increase of Angola in Galp. In fact, Sonangol is already in the capital of the Portuguese company through the Dutch Amorim Energia (of which the Portuguese billionaire Americo Amorim is also the reference shareholder).

In Piazza Affari at the end of the morning, Eni shares dropped 0,69%

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