Logo
  Thursday, August 22, 2019
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Eni has closed the deal to sell a 20% stake
Eni has closed the deal to sell a 20% stake in Russian oil producer Gazprom Neft to its parent company, Gazprom, for $4.2 billion, the Italian energy giant announced on Friday.

The deal stipulated in a bilateral agreement signed between the two energy giants on April 7 gives Gazprom control of a total of 95.68% in its oil arm.

Eni CEO Paolo Scaroni said earlier his company had bought the stake for $3.7 billion at an auction two years ago with a loan at an interest rate of 9.4%, which pushed the asset cost to a total $4.2 billion.

Gazprom Neft, which handles exploration and production of oil and condensates, reported a 12% increase year-on-year in its U.S. GAAP net profit to $4.7 billion last year.


Print Eni has closed the deal to sell a 20% stake Bookmark Eni has closed the deal to sell a 20% stake

Related News   
MarApril 2009May
MoTuWeThFrSaSu
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910