By Christie U. Omonigho
Eni says it has just signed an agreement to enter into a period of exclusivity with Ares Alternative Credit Management which it has described as a “globally significant investment fund” aimed at negotiating a definitive agreement to finalize later the sale of a stake in Plenitude equal to 20%, based on an equity value of the Company between 9.8 and 10.2 billion euros which also corresponds, according to Eni, to an enterprise value of more than 12 billion euros.
Energy Window International (Media), through an email statement, had gathered that the agreement followed a thorough selection process involving several prominent international players who expressed strong interest in the company, “further confirming the great appeal of its business model and its growth prospects.”