The Italian energy company Eni SpA has signed an agreement with the American investment fund Ares Alternative Credit Management to sell a 20% stake in the renewable energy division of Plenitude for 2 billion euros ($2.3 billion). This is reported in a press release from Eni.
As part of the deal, the total value of Plenitude is estimated at more than 12 billion euros. The deal is the second sale of Plenitude shares, including the acquisition of 10% by Energy Infrastructure Partners in early 2025.
Eni also plans to sell shares in the biofuels and mobile division of Enilive, in which KKR&Co. Inc. acquired a 25% stake in early 2025, as well as in the carbon capture and storage division as part of a business optimization strategy.
Plenitude is a subsidiary of Eni in the retail and renewable energy sector. The company provides energy supply to homes and businesses, develops energy efficiency solutions, and manages electric vehicle charging stations. The headquarters is located in Milan (Italy).
Ares Alternative Credit Management is an American investment fund controlled by Ares Management Corp. The Fund manages assets worth $546 billion in North America, South America, Europe, Asia-Pacific and the Middle East. It is headquartered in Los Angeles, California, with an office in Milan.
Eni S.p.A. is the largest Italian multinational energy company with headquarters in Rome (Italy). The main production regions are Africa and Kazakhstan, and the main sales market is Italy and other European countries.
Read also in our Telegram channel "Mergers and acquisitions. AK&M».
