the sale of real state properties to Goldman Sachs' Whitehall Fund and other disposals underway confirm that the value of Eni Group real estate currently on sale amounts to over 3.000 billion Lire.
Regarding the conclusion of procedures for the selection of a buyer of a portion Eni Group real estate properties, as described in a press release of December the 1st 2000, Eni states that of the total value of 2,215 billion Lire, offered by Goldman Sachs' Whitehall Fund, approximately 1,208 billion lire concern the stake in Immobiliare Metanopoli (90,16%) and approximately 1,007 billion are related to other real estates properties owned by other companies of the Group (Eni, Snam, Sanmprogetti, Agip and others).
Considering that in 2000, other contracts and sale agreements were defined with other buyers for a total amount of approximately 300 billion Lire (holiday resorts, Metanopoli's residential real estate properties and other Snam properties), total value already reached is more than 2,500 billion Lire.
Considering that the disposal of Agip Petroli lands in Rho-Pero to the "Ente Fiera di Milano" is underway and that the selling process of a portion of Italgas real estate properties (estimates value of around 400 billion Lire) is started, it's confirmed that the total value of Eni Group real estate properties currently on sale is over 3,000 billion Lire, in line with market expectations.
Source:E.N.I
© 2000 Mena Report (www.menareport.com)
