Italy's ENI (E +1.9% in Milan) has agreed to sell a 28.6% stake in Eni East Africa to China...

|About: ENI S.p.A. (E)|By:, SA News Editor

Italy's ENI (E +1.9% in Milan) has agreed to sell a 28.6% stake in Eni East Africa to China National Petroleum Corp. for $4.21B. The deal will enable CNPC to indirectly acquire a 20% holding in the Area 4 natural gas field in Mozambique, after which Eni East Africa will retain a 50% stake in the field. (PR)