Genoa, 12 October 2016 - ERG is pleased to announce the agreement signed and finalised today with UniCredit providing for the exchange of the total stake formerly held by UniCredit in ERG Renew, corresponding to 7,692,308 shares and representing an equity interest of 7.14% (see Press Releases dated 19 December 2013 and 16 January 2014), for 6,012,800 ERG ordinary treasury shares representing 4% of ERG's entire share capital. The swap ratio agreed for the exchange amounts to approximately 0.78 ERG ordinary shares for each ERG Renew share, considering a value of €12.8 per ERG ordinary share.

The swap ratio was calculated based on the Fair Value assigned to the ERG shares and to the ERG Renew stake formerly held by UniCredit determined using Discounted Cash Flow methodology, also supported by the appraisals specifically prepared by an independent expert.

Following the transaction, ERG holds 1,503,200 ordinary treasury shares, corresponding to 1% of its share capital.

ERG's Board of Directors has today approved the transaction and in particular the sale of the aforesaid ERG ordinary treasury shares under the authorisation granted by the ERG Shareholders' Meeting held on 3 May 2016.

As part of the transaction, UniCredit has undertaken to observe a 180 day lock-up commitment vis-à-vis ERG, according to which UniCredit may not sell the ERG shares purchased by way of the exchange.

Luca Bettonte, ERG's Chief Executive Officer, commented: 'I am very satisfied with the agreement reached with UniCredit, which comes as a consequence of the significant results hitherto achieved and reflects the confidence of a prestigious international bank in the Group's ability to continue creating shareholder value.'

This press release, issued at 4.30 p.m.(CEST) on 12 October 2016 is available to the public at the offices of Borsa Italiana S.p.A., on the Nis-Storage authorised storage mechanism (www.emarketstorage.com) and on the Company's website (www.erg.eu), in the section 'Media/Press releases'.

Contacts:

Alessandra Mariotti Media Relations Manager - tel. + 39 010 2401364 mob. + 39 335 8053395
Emanuela Delucchi IR Manager - tel. + 39 010 2401806 - e-mail: ir@erg.eu
Matteo Bagnara IR - tel. + 39 010 2401423 - e-mail: ir@erg.eu
www.erg.eu - @ergnow

ERG S.p.A. published this content on 12 October 2016 and is solely responsible for the information contained herein.
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