Eni’s Plenitude deconsolidates after EUR 1.56 billion capital increase reshapes ownership
E•Plenitude completed a EUR 1.56 billion capital increase, with Ares subscribing EUR 1.08 billion and Eni EUR 480 million. Eni and Ares gained joint control, and Plenitude will be deconsolidated from Eni’s consolidated financial statements.
1. Capital increase and ownership
Plenitude completed a non-pro rata EUR 1.56 billion capital increase, setting its pre-money equity value at EUR 10.75 billion. Ares subscribed EUR 1.08 billion and Eni subscribed EUR 480 million. Post-transaction, Eni owns 65.03%, Ares 26.24% and EIP 8.73%; Eni and Ares gained joint control, and Plenitude will be deconsolidated from Eni’s consolidated financial statements.
2. Board composition
Plenitude’s board was reset to nine directors: Eni appoints five, Ares three and EIP one.
