ZACKS·2025-06-23 14:10Core Insights - Eni S.p.A. has signed an agreement to sell a 20% stake in its multi-energy unit Plenitude to Ares Management for approximately €2 billion, valuing Plenitude at €10 billion in equity and over €12 billion in enterprise value [1][9] - The transaction is subject to regulatory approvals and marks Ares as the second major external investor in Plenitude, following Energy Infrastructure Partners' earlier 10% acquisition [2] Plenitude's Growth and Strategy - Plenitude operates in over 15 countries, with more than 4 GW of renewable power generation, energy retail, and EV charging infrastructure, serving over 10 million customers and managing 21,500 EV charging points across Europe [3] - The company aims to increase its renewable capacity to 10 GW and expand its customer base beyond 11 million by 2028 [3][9] - The CEO of Plenitude views the transaction as validation of the company's integrated strategy, balancing economic performance with environmental sustainability [4] Eni's Strategic Model - The deal is part of Eni's strategy to scale and monetize its high-growth, low-carbon businesses through a satellite model, attracting long-term partners while supporting decarbonization goals [5][6] - Eni's Chief Transition & Financial Officer emphasized that the agreement reflects strong market confidence in Plenitude's business model and will support the company's next phase of growth [6]