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Europe Daily Bulletin No. 7750

3 July 2000
Contents Publication in full By article 24 / 41
GENERAL NEWS / (eu) eu/competition
Commission authorises ENI to acquire stake in GALP (Oil/Gas)

Brussels, 03/07/2000 (Agence Europe) - The European Commission gave the go-ahead for the acquisition by the Italian energy group ENI of a stake in the Portuguese oil and gas company GALP. This operation is part of a move by the Portuguese government to find an industrial partner for GALP before its full privatisation. Following this transaction, concluded for a total of EUR 964 million, the Portuguese State's stake will be lowered to 48.3% while that of ENI will rise to 33.3%, the remaining...

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