ROME--Italy's Economy Ministry said Thursday that it has sold
5.74% of electricity utility ENEL SpA (ENEL.MI) for EUR2.2 billion
($2.5 billion).
The Italian govenrment is in the process of selling off some
state-owned assets. The sale of its large postal service is amongst
the biggest expected, but has been delayed. An expected sale of a
slice of oil company Eni SpA (ENI.MI) has also been delayed due the
fall in energy prices.
Following the sale, the government now owns 25.5% of ENEL, down
from 31.24% previously.
The government has agreed with the sale's organizing banks not
to sell any further shares of ENEL for 180 days without their
consent.
Bank of America Merrill Lynch, Goldman Sachs International,
Mediobanca, and Unicredit acted as joint bookrunners.
Write to Deborah Ball at Deborah.Ball@wsj.com
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