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Italy fund to subscribe to Enel cap hike-sources
March 12, 2009 / 10:00 AM / 9 years ago

Italy fund to subscribe to Enel cap hike-sources

MILAN, March 12 (Reuters) - Italy’s government investment arm, Cassa Depositi e Prestiti (CDP), will fully subscribe its 10 percent stake in Enel (ENEI.MI) to a capital increase of up to 8 billion euros, three sources close to the matter said.

CDP will then pass its stake to the Treasury, the sources told Reuters on Thursday on condition of anonymity.

“CDP will subscribe to the capital increase as shareholders of 10 percent,” one of the sources said. “Then the CDP will transfer its 10 percent stake to the Treasury.”

The source also said the Treasury will get those shares in the form of extra dividends.

The Treasury owns 70 percent of CDP with the remaining 30 percent owned by banking foundations. (Reporting by Francesca Landini)

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