Eni Sells 100% of IP Shareholding to api

Eni has sold its 100 per cent shareholding in IP (Italiana Petroli S.p.A) to api (anonima petroli italiana S.p.A.) for 190 million euro. The sale was authorised on 25 August 2005 by the Italian Antitrust Authority.

This operation is in line with Eni's strategy to rationalise its presence in the Italian market and develop further its refining & marketing activities in Europe. With the sale of IP, the re-positioning process of Eni's fuel distribution in Italy is complete. As from today, Eni's marketing activities in Italy will be solely represented by the Agip brand, through a network of 4,300 stations - representing a 30 per cent market share - and with sales and service quality reaching the highest levels in Europe.

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Added to site on 07/09/05

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