ENI SPA | CIK:0001002242 | 3

  • Filed: 4/13/2018
  • Entity registrant name: ENI SPA (CIK: 0001002242)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1002242/000117494718000616/0001174947-18-000616-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1002242/000117494718000616/e-20171231.xml
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  • ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory

    37 Other information

    Supplemental cash flow information

    (€ million)   2017   2016   2015
    Disposal of consolidated subsidiaries and businesses                        
    Current assets     166       6,526       44  
    Non-current assets     814       8,615       125  
    Net borrowings     (252 )     (5,415 )     (77 )
    Current and non-current liabilities     (205 )     (6,334 )     (45 )
    Net effect of disposals     523       3,392       47  
    Reclassification of foreign currency translation differences among other items of comprehensive income             7       (34 )
    Fair value of share capital held after the sale of control             (1,006 )        
    Gain on disposal     2,148       11       66  
    Non-controlling interest             (1,872 )        
    Selling price     2,671       532       79  
    less:                        
    Cash and cash equivalents     (9 )     (894 )     (6 )
    Disposal of consolidated subsidiaries and businesses net of cash and cash equivalent     2,662       (362 )     73  

    Cash flow from disposals of 2017 related to: (i) the sale to ExxonMobil of a 25% interest in natural gas-rich Area 4 offshore Mozambique where development activities are ongoing to put into production the significant gas resources discovered by Eni. Particularly in 2017, Eni made the final investment decision (FID) of the Coral FLNG project regarding development of gas reserves. The cash consideration amounted to €2,362 million plus the corresponding portion of net borrowings of the business divested to the buyer amounting to €264 million; (ii) the sale of the whole interest in the consolidated company Eni Gas & Power NV and its subsidiary Eni Wind Belgium NV, operating in the gas & power retail activities in Belgium. The sale price amounted to €302 million including cash divested of  €8 million.