Eni completes Plenitude shareholding, governance reorganization
E•Eni completed a reorganization of Plenitude’s shareholding and governance through a €1.56 billion non-proportional capital increase. Ares subscribed €1.08 billion and Eni €0.48 billion; the new governance framework means Plenitude will no longer be consolidated in Eni’s financial statements.
1. Capital increase and governance
The €1.56 billion non-proportional capital increase was subscribed by Ares for €1.08 billion and Eni for €0.48 billion. Plenitude’s new board will have nine members, five appointed by Eni, and the new governance framework results in Plenitude’s deconsolidation from Eni’s consolidated financial statements.
