Eni notified acquisition of majority stake in Distrigas to Belgian Banking, Finance and Insurance Commission ("CBFA")
On 30 October 2008, Eni completed the acquisition from Suez-Tractebel of a 57.243% interest in the Belgian company Distrigas (the "Majority Stake"). The acquisition was carried out by Eni Gas & Power Belgium SA ("Eni Belgium"), a Belgian company wholly controlled by Eni S.p.A.
The agreed price for the acquisition of the Majority Stake was 2,738.88 million Euro, equal to 6,809.64 Euro per Distrigas share plus an additional amount to be paid in certain circumstances (as described below).
In accordance with article 50 of the Belgian Royal Decree of 27 April 2007 on public takeover bids (the "Royal Decree"), Eni Belgium will be obliged to make an unconditional mandatory public takeover bid for all the shares in Distrigas not yet owned by it (the "Takeover Bid").
On 3 November 2008, Eni Belgium notified the Majority Stake acquisition to the CBFA, submitting the draft prospectus of the Takeover Bid to the CBFA.
Pursuant to the Royal Decree, the acceptance period of the Takeover Bid should start within 40 business days after the completion of the Majority Stake acquisition.
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