Eni Signs Agreement For Energy Infrastructure Partners To Invest In Plenitude With An Enterprise Value Of Over €10B
Portfolio Pulse from Charles Gross
Eni has reached an agreement with Energy Infrastructure Partners (EIP) for an investment in Plenitude. EIP will invest up to €0.7 billion for a 9% stake post-transaction, with an initial capital increase of €0.5 billion. This deal values Plenitude's equity at around €8 billion and the enterprise at over €10 billion.
December 21, 2023 | 10:18 am
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Eni (E) has agreed to a significant investment from EIP into its subsidiary Plenitude, with an initial capital increase of €0.5 billion and an option for EIP to invest up to €0.7 billion. This values Plenitude at an enterprise value of over €10 billion.
The investment from EIP into Plenitude, a subsidiary of Eni, is a positive development, indicating confidence in Eni's business strategy and growth potential in the energy sector. The significant capital injection and the high valuation of Plenitude are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on Eni's stock price.
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