Italy's Saras down over 6%, trade under Vitol's price offer
12/02/2024 08:12
ROME, Feb 12 (Reuters) - Shares in Italy's Saras
SRS.MI were down more than 6% in early trade on Monday, after
its controlling shareholder, the Moratti family, agreed to sell
its stake to global commodity trader Vitol, in a deal valuing
the oil refiner 1.7 billion euros.
Saras shares were trading at 1.68 euros apiece on the Milan
bourse at 0902 GMT, under the 1.75 euros per share offered by
Vitol in the deal. They closed at 1.79 euros on Friday, up 8%
after media speculations had already lifted the stock.
(Reporting by Giulia Segreti, editing by Cristina Carlevaro)
((Giulia.Segreti@tr.com; +39.06.80307714;))