Eni Sells Egyptian Gas Field Stake, Intesa to Finance Glencore Rosneft Deal

Sarla Buch
12 Dec, 2016
New York City

Italy controlled Eni agreed to sell its 30% stake in Egypt-based gas field to Rosneft for $1.6 billion. e2v Tech agreed to be acquired by Teledyne for

[R]4:00 PM Frankfurt – Italy controlled Eni agreed to sell its 30% stake in Egypt-based gas field to Rosneft for $1.6 billion. e2v Tech agreed to be acquired by Teledyne for £620 million. Intesa led syndicate will finance €7 billion for Glencore and Qatar controlled funds to acquire a stake in Rosneft.[/R]

In London trading, FTSE 100 index dropped 44.58 or 0.6% to 6,909.43 and in Frankfurt the DAX index edged up 5.92 to 11,209.54.

In Paris, CAC 40 index rose 7.83 or 0.2% to 4,771.90.

Eni SpA jumped 4.1% to €14.84 after Italian government controlled oil and gas explorer agreed to sell its 30% stake in Egypt-based gas field Zohr to Russia controlled PAO Rosneft for $1.58 billion.

e2v Technologies Plc surged 47.3% to 273.25 pence after the U.K.-based image sensors provider agreed to be acquired by Teledyne Technologies Inc for 275 pence per share or £620 million or $780 million in cash.

Intesa Sanpaolo SpA fell 0.2% to €2.35 after Italy-based banking services provider with syndicate will finance about €7 billion for commodities trader Glencore Plc and Qatar Investment Authority to buy 19.5% stake in Russia-based Rosneft.

Lavendon Group Plc slipped 1.6% to 225.26 pence after Reuters said the Belgium-based industrial equipment supplier TVH Group NV said it lowered its acceptance condition for the proposed £348 million or $438.62 million takeover from the U.K.-based powered access equipment provider.

Lonza Group AG plunged 5.5% to 168.30 Swiss francs after Switzerland-based pharmaceutical group is in preliminary talk to acquire the U.S.-based capsule and other drug maker Capsugel for about $5 billion from private equity firm KKR & Co.

Zurich Insurance Group AG slid 0.1% to 277.50 Swiss francs after Switzerland-based insurer agreed to buy Australia-based travel insurance provider Cover-More Group Ltd for about A$741 million or $551 million.