The Moratti family reduces its stake in Saras but retains the absolute majority through Angelo Moratti Sapa. Gian Marco Moratti and Massimo Moratti have in fact personally reached an agreement with Rosneft for the sale of 13,70% of Saras for 178,49 million euros: the transaction will see the Moratti brothers sell their shares entirely, while Sapa (currently owner of 62,46%) will drop to 50,02% following the sale.
The new operation announced by Saras therefore envisages Rosneft's entry into the company's capital and will increase the proceeds made by the Moratti family since the company's listing on the Stock Exchange seven years ago. In 2006 the IPO, much discussed and with judicial aftermath then resolved with filing, took place at the price of 6 euros per share. By selling 33,4% of the company, the Morattis collected 1,65 billion euros.
During the first three years, Saras managed to distribute dividends (0,15 euro per share in the first year and 0,17 in the following two) which for the Morattis entailed proceeds of 290 million. Finally, today, the announcement that the Milanese family will sell 13,7% of the company to Rosneft at 1,37 euros per share, equal to a total of 178,49 million. In total, in seven years, the Morattis therefore earned 2,12 billion euros. The value of the company, on the other hand, also due to the crisis, has progressively dropped from the 6 euro quotation to the current 0,958 (before the announcement of the operation with the Russian giant) for a capitalization of 911 million.
