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Reuters
Italy’s Salas falls more than 6%, trading at Vitol’s asking price
Rome, February 12 (Reuters) –Italian Salas shares SRS.MI The company’s controlling shareholder, the Moratti family, fell more than 6% in early trading Monday. agreed to sell It has sold its stake to global commodity trader Vitol in a deal that values the oil refiner at 1.7 billion euros.
Salas shares were trading at 1.68 euros per share on the Milan Stock Exchange at 0902 GMT, below the 1.75 euros per share offered by Vitol in the deal. The stock rose 8% to close at 1.79 euros on Friday, after the stock had already risen on media speculation.
Reporting by Giulia Segreti; Editing by Cristina Carlevaro
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