Recently, White & Case LLP, a leading global law firm, worked with the Italian Ministry of Economy and Finance to sell approximately 92 million ordinary shares of Eni S.p.A. This transaction represents about 2.8% of the company’s share capital and was conducted through an accelerated book-building process targeting qualified investors in Italy and institutional investors abroad.
The sale was completed at a price of €14.855 per share, totaling around €1.4 billion. As a result of this transaction, the Ministry’s ownership stake in Eni S.p.A. will decrease from approximately 4.8% to about 2%.
Goldman Sachs International, Jefferies, and UBS Europe SE served as joint global coordinators and bookrunners for the sale. The White & Case legal team involved in the transaction included partners Domenico Fanuele and Michael Immordino, along with local partner Alessandro Picchi and associate Camilla Zanetti, all based in Milan.
This significant deal demonstrates White & Case’s expertise in corporate transactions and their ability to work with clients to achieve their objectives while navigating complex regulatory environments.