Latest news with #StefanoQuesta
Yahoo
23-06-2025
- Business
- Yahoo
Eni Sells 20% Stake in Plenitude to Ares in 2 Billion Euro Deal
Italian energy major Eni S.p.A. E has signed a landmark agreement to sell a 20% stake in its multi-energy unit Plenitude to Ares Management Alternative Credit funds for approximately €2 billion. According to the company, the deal values Plenitude at €10 billion on an equity basis and over €12 billion in enterprise value, marking a milestone in Eni's strategy to unlock value from its satellite businesses. The transaction, still subject to regulatory approvals, introduces Ares as the second major external investor in Plenitude, following the earlier 10% acquisition by Energy Infrastructure Partners. Ares Management Corporation ARES is a globally recognized alternative investment firm with around $546 billion in assets under management as of March 31, 2025. Plenitude operates in more than 15 countries, combining over 4 GW of renewable power generation, energy retail, and EV charging infrastructure. It currently serves more than 10 million customers and manages 21,500 EV charging points across Europe. By 2028, it aims to ramp up renewable capacity to 10 GW and expand its customer base beyond 11 million. Plenitude CEO Stefano Goberti views the transaction as a strong validation of the company's integrated strategy, which balances economic performance with environmental sustainability and positions it for long-term relevance in the evolving energy sector. Stefano Questa, partner and co-head of European Alternative Credit at Ares, emphasized Plenitude's leading role in the energy transition, highlighting its unique business model and consistent record of growth and profitability. The deal forms part of Eni's broader strategy to scale and partially monetize its high-growth, low-carbon businesses through its satellite model, which aims to attract long-term partners while supporting decarbonization goals. Francesco Gattei, Eni's Chief Transition & Financial Officer, highlighted that the agreement reflects the strong market confidence in Plenitude's business model and marks the addition of a major international partner to support the company's next phase of growth. The proceeds from the stake sale are expected to support Eni's continued investments in energy transition while enhancing Plenitude's financial flexibility for global expansion. E currently carries a Zack Rank #4 (Sell). Investors interested in the energy sector may look at a couple of better-ranked stocks like Subsea 7 S.A. SUBCY and Oceaneering International, Inc. OII. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Ares Management Corporation (ARES) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
New Straits Times
23-06-2025
- Business
- New Straits Times
Italian energy group Eni sells 20pct of Plenitude to Ares for US$2.3bil
MILAN: Italian energy group Eni has sold a 20 per cent stake in its retail and renewables business Plenitude to US alternative investment manager Ares Management Corp for about 2 billion euros (US$2.30 billion), it said on Monday. The transaction is part of the Italian group's long-term strategy to find partners to jointly develop its businesses and follows the sale of a 10 per cent stake in Plenitude to Swiss investment fund Energy Infrastructure Partners. "Plenitude is an established leader in energy transition, with a differentiated business model and an outstanding track record," said Stefano Questa, co-head of European Alternative Credit at Ares. Deutsche Bank and UniCredit advised Ares, while Goldman Sachs and Mediobanca supported Eni on the deal, which gives Plenitude a 10 billion euro equity value, rising above 12 billion euros when including debt. Plenitude operates in more than 15 countries and combines more than 4 gigawatts of renewable energy production with a power and gas retail business. It has more than 10 million customers and manages a network of 21,500 charging points for electric vehicles. Ares, which had been looking to grow its presence in Italy, invested in Plenitude through its Ares Alternative Credit strategy, an asset-based finance operator which managed around US$43 billion in assets at the end of March. The overall platform of Ares Management, a global leader in private credit, had around US$546 billion of assets under management at the end of March.
Business Wire
23-06-2025
- Business
- Business Wire
Ares Management Acquires Minority Stake in Plenitude for €2 Billion
LONDON & MILAN--(BUSINESS WIRE)--Ares Management Corporation ('Ares') (NYSE: ARES), a leading global alternative investment manager, announced today that Ares Alternative Credit funds ('Ares Alternative Credit') have entered into a definitive agreement for the acquisition of a 20% stake in Plenitude, a leader in energy transition controlled by Eni, for approximately €2 billion. The consideration implies an enterprise value for Plenitude of over €12 billion. Completion of the transaction is subject to customary regulatory approvals. Plenitude operates in over 15 countries worldwide, integrating a business model that combines over 4 GW of renewable energy production, as well as retail and energy solutions. The company serves more than 10 million customers and manages an extensive network of 21,500 charging points for electric vehicles. 'This transaction underscores the strength of the Ares platform, which leverages experience across its diversified businesses, including asset-based finance and renewables infrastructure, to deliver flexible capital at scale,' said Joel Holsinger, Partner and Co-Head of Alternative Credit at Ares. 'We are excited to support Plenitude as the company executes its growth strategy focused on enduring profitability and positive community impact.' 'Plenitude is an established leader in energy transition, with a differentiated business model and an outstanding track record, and we are delighted to be part of its next phase of growth,' said Stefano Questa, Partner and Co-Head of European Alternative Credit. Stefano Goberti, CEO of Plenitude, said, 'I am pleased to welcome Ares, one of the world's leading investment funds, as a new shareholder in Plenitude. The deal is a further endorsement of the quality of our strategic approach, which combines economic and environmental sustainability in an integrated business model projected on the future of the energy sector. Ares, with its entry into the company, highlights the progression of Plenitude's value and becomes part of our growth journey, which we pursue with determination and conviction day after day.' The Ares Alternative Credit strategy is a leading investor in asset-based finance, managing approximately $42.9 billion in assets under management as of March 31, 2025. The team invests across the capital structure and seeks opportunities in large, diversified portfolios across various sectors, including specialty finance, lender finance, equipment leasing, structured products, net lease, cash flow streams (e.g., royalties, licensing, management fees) and other asset-focused investments. Aligning Ares' investment activities with its social impact, Ares and Ares Alternative Credit portfolio managers have committed to donate a portion of the performance fees from Ares Alternative Credit's Pathfinder family of funds to support global health and education charities. About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2025, Ares Management Corporation's global platform had approximately $546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit
