
AI-generated summary
Plenitude is the Eni group company active in the renewable energy and electric mobility sector. The share reorganization comes in the context of Eni's energy transition strategy, which aims to develop satellite activities through partnerships with institutional investors.
Eni announces that it has completed, together with its current partners Ares Management Alternative Credit funds and Energy Infrastructure Partners (Eip), the reorganization of Plenitude's shareholding structure. The operation was carried out through a non-proportional capital increase of 1.56 billion euros, subscribed by Ares for 1.08 billion euros and by Eni for 0.48 billion euros, and recognizes an Equity Value at 100% of pre-money plenitude of 10.75 billion euros (approximately 13.1 billion euros in terms of Enterprise Value). Following the completion of the operation, the share capital of Plenitude is now held by Eni (65.03%), Ares (26.24%) and EIP (8.73%).
The new board of directors of Plenitude will be made up of nine members, five of whom will be appointed by Eni (including the CEO), three by Ares (including the president) and one by Eip.
"The reorganization of Plenitude's shareholding structure represents a significant milestone in the company's development path and a concrete demonstration of the effectiveness of Eni's satellite model", said Francesco Gattei, Chief Transition & Financial Officer of Eni. "The share reorganization and the capital injection by the shareholders open up new opportunities for Plenitude which will be committed to pursuing its growth objectives."
AI outlook â possibilities, not facts
Plenitude will accelerate investments in renewable energy and electric mobility over the next 12-18 months
Likely ¡ Within months

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