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    ENI   IT0003132476

ENI S.P.A.

(ENI)
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Eni Sells Stake in Algeria-Italy Gas Pipelines to Snam

11/29/2021 | 02:13am EST

By Olivia Bugault

ENI SpA agreed to sell a 49.9% stake in subsidiaries operating gas pipelines between Algeria and Italy to energy infrastructure company Snam SpA for a consideration of 385 million euros ($435.7 million).

The deal includes the onshore gas pipelines running from the Algeria and Tunisia borders to the coast of Tunisia, and the offshore gas pipelines connecting the Tunisian coast to Italy, Eni said Saturday.

Under the agreement between the two Italian companies, "Eni will contribute its entire ownership interests in the two pipelines to a newly incorporated Italian company (NewCo) in which Eni will continue to hold a 50.1% stake, whereas the remaining 49.9% will be sold to Snam," the Italian oil-and-gas company said.

The deal should be closed by the third quarter of 2022, subject to conditions such as the authorization of the Tunisian government and consent from shareholders, it said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

11-29-21 0213ET

Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. 2.12% 13.786 Delayed Quote.10.34%
SNAM S.P.A. 0.75% 4.968 Delayed Quote.-7.04%
WTI 1.10% 88.253 Delayed Quote.13.23%
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Analyst Recommendations on ENI S.P.A.
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Financials
Sales 2021 71 331 M 79 606 M 79 606 M
Net income 2021 3 905 M 4 357 M 4 357 M
Net Debt 2021 16 158 M 18 032 M 18 032 M
P/E ratio 2021 12,3x
Yield 2021 6,35%
Capitalization 47 712 M 53 833 M 53 247 M
EV / Sales 2021 0,90x
EV / Sales 2022 0,78x
Nbr of Employees 31 495
Free-Float -
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 13,48 €
Average target price 14,33 €
Spread / Average Target 6,27%
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Managers and Directors
Claudio Descalzi COO-Exploration & Production Division
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Francesca Zarri Director-Technology, Digital, R&D
Giuseppe Ricci Deputy Chief Operating Officer
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