Eni (E) Sells 10% Stake of Saipem to Focus on Core Operations

The transaction was initiated through an accelerated book-building procedure, a swift method often used to sell shares quickly to institutional investors. Eni's divestment is part of a broader strategy to reduce debt and concentrate on its core operations. In midMarch, the company outlined plans to generate €8 billion ($8.59 billion) in net proceeds from asset sales by 2027 as part of its financial restructuring and strategic refocus. The final terms of the transaction will be disclosed upon the completion ...