02:34 AM EDT, 10/01/2026 (MT Newswires) -- Eni (ENI.MI) completed the shareholding reorganization of Plenitude through a capital increase of 1.56 billion euros, reflecting an enterprise value for the renewables division of 13.1 billion euros, according to a Thursday release. Existing investor Ares Management Alternative Credit funds subscribed for 1.08 billion euros of the non-proportional capital raise, while the Italian energy company subscribed for 480 million euros. Eni holds a 65.03% stake in Plenitude, Ares Management a 26.24% interest, and Energy Infrastructure Partners the remaining 8.73%. The new arrangement provides Eni and Ares Management with joint control over Plenitude and deconsolidates it from Eni's financial statements. Eni will retain de jure control over Plenitude and will continue to provide direction in line with the joint control arrangement.

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