Ares ups Plenitude stake to 26.24% in capital structure reorganization
ARES•Ares and Eni contributed about €1.5 billion in a reorganization of Plenitude’s shareholding and governance, with more than €1 billion coming from Ares. The transaction implied a €10.75 billion pre-money equity valuation and raised Ares’ stake to 26.24%.
1. Stake and governance changes
Ares and Eni increased their capital contributions by about €1.5 billion, including more than €1 billion from Ares, in a reorganization of Plenitude’s shareholding and governance. The transaction implied a pre-money equity valuation of €10.75 billion; Ares now holds 26.24%, Eni 65.03% and Energy Infrastructure Partners 8.73%. Ares has three board seats, including the chairman, while Eni has five, including the CEO, and EIP has one.
