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Eni sees over 10 bln euros of asset disposal in new plan
March 14, 2013 / 3:51 PM / 5 years ago

Eni sees over 10 bln euros of asset disposal in new plan

MILAN, March 14 (Reuters) - Italian oil and gas group ENI expects to raise more than 10 billion euros ($12.9 billion) from the disposal of assets including stakes in Snam and Galp, according to slides from an analyst presentation.

During the presentation, Chief Executive Paolo Scaroni said half of that would come Snam and Galp combined.

Scaroni also said if oil prices remained at current levels and cash flow targets were met, Eni could consider activating a share buyback.

“We want to keep maximum flexibility on the buyback... we will activate the buy back when the scenario is more generous,” he said. ($1 = 0.7722 euros) (Reporting By Stephen Jewkes, editing by Danilo Masoni)

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