Eni gas e luce completed the acquisition of a 70% stake in Evolvere from L&B Capital.

Eni gas e luce, the energy retail company, completed the acquisition of a 70% stake in Evolvere, an Italian energy distributor, from private equity firm L&B Capital. Financial terms were not disclosed. “In an energy market where final customers take on a more active role – being both producers and consumers – Evolvere’s acquisition lets Eni gas and luce become a leader in the market of distributed generation from renewable sources in Italy, in accordance with Eni’s mission that aims to create value through the energy transition,” Alberto Chiarini, Eni gas e luce Chief Executive Officer.