Eni Starts Negotiations with Ares for Plenitude Stake Sale Based on $13B Value

Thursday, May 15, 2025
(Credit: Plenitude)

Italy’s Eni has signed an agreement to enter into a period of exclusivity with investment fund Ares Alternative Credit Management for the sale of stake in Plenitude, its retail and renewables unit.

The exclusivity agreement is aimed at negotiating a definitive agreement and subsequently finalizing the sale of a stake in Plenitude equal to 20% to Ares.

The agreement is based on an equity value of the company between $11 billion and $11.4 billion (€9.8 and €10.2 billion), corresponding to an enterprise value of more than $13.4 billion (€12 billion).

The agreement follows a thorough selection process involving several prominent international players who expressed strong interest in the company, further confirming the great appeal of its business model and its growth prospects, Eni said.

Categories: Mergers & Acquisitions Renewable Energy Industry News Activity Europe Offshore Wind Oil and Gas

Related Stories

TenneT Installs Giant HVDC Offshore Wind Converter Platform in North Sea

TenneT Installs Giant HVDC Offshore Wind Converter Platform in North Sea

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

First French Floating Wind Farm Fully Commissioned

First French Floating Wind Farm Fully Commissioned

Current News

Repsol Hires Halliburton for Well Lifecycle Optimization of North Sea Assets

Aquaterra Energy to Deliver Well Services Work for North Sea CCS Project

Tyra II: Completion Test Successfully Met

RWE Inks O&M Deals with Clarkson Port Services for Nordseecluster OW Project

Subscribe for OE Digital E‑News

Offshore Engineer Magazine