Eni Moves To Sell 20% Stake In Plenitude To Ares

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 15. Italian energy giant Eni has signed an exclusivity agreement with Ares Alternative Credit Management to negotiate the sale of a 20% stake in Plenitude, its renewable energy and retail subsidiary, Trend reports.

The move marks a key step toward a definitive deal that would value Plenitude at between 9.8 billion euros and 10.2 billion euros in equity terms, with an enterprise value exceeding 12 billion euros. The exclusivity period will allow the two parties to finalize the terms of the transaction.

Ares Alternative Credit Management, part of the global alternative investment firm Ares Management Corporation, was selected following a competitive process involving several leading international investors. According to Eni, the high level of interest reflects strong market confidence in Plenitude's integrated business model and long-term growth potential.

MENAFN15052025000187011040ID1109551744