Italy Government Says Libya Expresses Interest To Buy Stake In Eni
In a joint statement with the Libyan Energy Fund, the North African country told Italy it conditioned the unspecified stake purchase on the Rome government not opposing it.
"The Italian government has acknowledge the interest and the economic scope of the proposed investment...and in the declared absence of any intention to interfere in the management of the company," said the statement. It didn't say when the equity stake buy is planned.
The Libyan government is aware of the voting limits in Eni, the statement added.
The Rome-based company is controlled by the Italian government with a 30.2% stake.
Eni will keep the financial market informed of any relevant changes in its share structure in line with stock market rules, said a company spokeswoman.
According to Italian securities rules, an equity holding of 2% or more has to be declared.
Eni is the biggest international investor in Libya's vast oil industry.
Libya is a "bargain-hunter" in Italy, said Shokri Ghanem, the head of Libya's National Oil Co., at an October conference in Rome. Earlier that month, Libyan state-owned institutions took a 4.9% stake in a leading Italian bank, UniCredit SpA (UCG.MI).
In August, the two countries signed an accord ending all disputes referring to Italy's colonial past in Libya. Italy agreed to invest $5 billion in Libya for infrastructure projects over the next 25 years.
Company Web site: http://www.eni.it
Government Web site: http://www.governo.it
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
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(END) Dow Jones Newswires
December 06, 2008 12:20 ET (17:20 GMT)
Publié le 06 Décembre 2008 Copyright © 2008 Dowjones
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