Plenitude completes Ares’ share capital entry

Plenitude (“the Company”) announces the finalization of the transaction - first announced on 23 June - for Ares Alternative Credit funds, affiliates of Ares Management Corporation (“Ares”) (NYSE: ARES), to enter its shareholder base through the acquisition of a 20% stake.

The stake corresponds to a total value of 2 billion euros, based on an equity valuation of 10 billion euros, and an enterprise value of over 12 billion euros. The transaction has been approved by the relevant authorities.

Stefano Goberti, Plenitude CEO, said: “Today, Ares officially joins Plenitude’s shareholder base, alongside Eni and Energy Infrastructure Partners. The arrival of a new investor further confirms the appeal of our distinctive business model and highlights the value we have built over time. We are confident that, together, we will continue to pursue our shared growth path with determination”.

“We are pleased to complete our investment in Plenitude and look forward to partnering with Stefano and the rest of the Plenitude and Eni teams for the next chapter of growth”, said Stefano Questa, Partner and Co-Head of European Alternative Credit.

Plenitude operates in over 15 countries worldwide with a business model that integrates electricity generation from 4.8 GW of renewable sources, energy sales, and energy solutions across Europe. The company serves 10 million customers and manages a vast network of over 22,000 public charging points for electric vehicles. By 2028, Plenitude aims to reach 10 GW of renewable capacity globally.