U.S. banks sell 7bn Saipem shares

Packet placed at 0.39 euros a share

(ANSA) - Milan, March 7 - J.P. Morgan and Goldman Sachs are selling seven billion shares in oil and gas contractor Saipem - equal to a 6.3% stake - at 0.3875 euros a share, financial sources said Monday. The packet of shares was placed at 0.39 euros a share, slightly above the offering price and totalling 273 million euros.
    The two banks took part in a consortium that guaranteed a 3.5-billion-euro Saipem capital increase at 0.362 euros a share that ended February 19.
    ABN AMRO Bank, Banca IMI, BNP Paribas, Citigroup, Deutsche Bank, DNB Markets, HSBC, Mediobanca, and UniCredit also took part in the consortium, all with stakes of under 2%. Shares in the Italian company, a subsidiary of State-controlled ENI oil and gas giant, jumped 7.5% in the day's trading to close at 0.42 euros a share.