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Ares Management Acquires Minority Stake In International Retail Supplier & Energy Solutions Co. Serving 10 Million Customers
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Ares Management Corporation announced that Ares Alternative Credit funds have entered into a definitive agreement for the acquisition of a 20% stake in Plenitude, a company controlled by Eni that is engaged in various energy transition businesses including retail and renewables, for approximately €2 billion.
The consideration implies an enterprise value for Plenitude of over €12 billion.
Plenitude operates in over 15 countries, integrating a business model that combines over 4 GW of renewable energy production, as well as retail and energy solutions.
In Europe, Plenitude operates retail electric and gas suppliers in Italy, France, Spain, Portugal, Greece, and Slovenia
Plenitude's retail and energy solutions arm serves more than 10 million customers and manages a network of 21,500 charging points for electric vehicles.
Completion of the transaction is subject to customary regulatory approvals.
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June 23, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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