April 29, 2019 / 11:44 AM / a month ago

Expressions of interest for Italy's Sorgenia expected by May 6: source

MILAN (Reuters) - Potential bidders for Italian energy company Sorgenia are expected to submit their expressions of interest by May 6, a source familiar with the matter told Reuters on Monday.

Sorgenia, once controlled by Italy’s De Benedetti family, is owned by a series of Italian banks, including top lenders UniCredit, Intesa Sanpaolo and Banco BPM, which took over after a debt restructuring.

“We are in a preliminary phase, during which we will evaluate the interest and decide whether to start a concrete sale process or not,” the source added.

A separate source told Reuters earlier this month that the banks were ready to sell their stakes, but not at any price.

Reporting by Giancarlo Navach, writing by Agnieszka Flak, editing by Giselda Vagnoni

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