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Italy Treasury kicks off sale of stakes in ENAV, Eni with letter to CDP: source
November 16, 2017 / 7:37 AM / 25 days ago

Italy Treasury kicks off sale of stakes in ENAV, Eni with letter to CDP: source

ROME (Reuters) - Italy’s Treasury has sent a letter to Cassa Depositi e Prestiti (CDP) to formally start the sale to the state lender of stakes in air traffic controller ENAV (ENAV.MI) and energy group ENI (ENI.MI), a source with knowledge of the matter said on Thursday.

CDP has received the letter and will evaluate the matter, the person said. The Treasury, which controls ENAV through a stake of 53.37 percent, is interested in selling a 50.37 percent holding in that company, the source added.

CDP declined to comment while the Treasury could not immediately be reached for comment.

The source’s comments follow a report in financial daily Il Sole 24 Ore, which said the Treasury had officially kicked off the sale process with a letter to CDP.

The paper added that the Treasury was planning to sell 3.3 percent of ENI, hoping to raise from both disposals a total of 2.8 billion euros ($3.30 billion).

Reporting by Massimiliano di Giorgio, writing by Agnieszka Flak; Editing by Isla Binnie

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