Eni has signed an agreement to sell a 20% stake in its renewables business, Plenitude.
The parent company has entered into a period of exclusivity with Ares Alternative Credit Management, a global investment fund, aimed at negotiating a definitive agreement and subsequently finalising the sale of a stake in Plenitude equal to 20%.
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The sale is based on an equity value of Plenitude of between €9.8bn and €10.2bn, corresponding to an enterprise value of more than €12bn.
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.