EIP to acquire a 9% stake in Plenitude from Eni for €900m.

Energy Infrastructure Partners, a private equity firm, agreed to acquire a 9% stake in Plenitude, a utility company, from Eni, an oil and gas company, for €900m. "We have achieved an excellent transaction. Thanks to it we highlight the value of Plenitude within Eni; we strengthen Plenitude’s financial structure to further support its energy transition and growth path; and we establish a long-term partnership with a leading international financial investor capable of contributing to Plenitude's value creation. Finally, we also improve Eni's capital structure, reducing its consolidated net financial leverage and optimizing its capital base. Indeed, this is a major milestone in our satellite model development, a key strategic initiative aimed at enhancing our high potential businesses by creating the conditions for independent growth, accessing new pools of capital, and providing visibility into their market value. We have made an important step forward in the enhancement of one of our strategic companies, that, alongside our sustainable mobility company Enilive, is focused on the sale of increasingly decarbonized products and the abatement of our Scope 3 emissions in our energy transition pathway,” Claudio Descalzi, Eni CEO.