Eni reorganizes Plenitude ownership, cedes control in accounts after €1.56 billion capital increase

By Public Technologies
  • Eni completed a reorganization of Plenitude’s ownership and governance with Ares Management Alternative Credit funds and Energy Infrastructure Partners.
  • Non-proportional capital increase of EUR 1.56 billion: Ares invested EUR 1.08 billion; Eni invested EUR 0.48 billion.
  • Deal implies pre-money equity value of EUR 10.75 billion for 100% of Plenitude, about EUR 13.1 billion enterprise value.
  • Post-transaction stakes: Eni 65.03%, Ares 26.24%, EIP 8.73%.
  • New governance grants Eni and Ares joint control, triggering Plenitude’s deconsolidation from Eni’s consolidated financial statements.


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