(Alliance News) - Plenitude, a subsidiary of Eni Spa, and Acea Spa have signed a binding agreement in Rome for the acquisition by Plenitude of 100% of ACEA Energia, a company active in the retail energy market, including a 50% stake in Umbria Energy Spa.
Upon completion of the transaction, expected by June 2026 subject to approval by the relevant authorities, Plenitude will pay Acea EUR460 million plus the recognition of normalized net cash of up to EUR127 million, for a total consideration of up to EUR587 million, subject to normal adjustment mechanisms.
There is also an additional price component of up to EUR100 million linked to the achievement of specific performance targets to be recorded on June 30, 2027.
Thanks to the transaction, Plenitude will integrate over 1.4 million retail customers in Italy, exceeding 11 million total customers in Europe and anticipating by two years the customer base target set for 2028.
Eni shares closed up 1.0% at EUR16.352 per share, while Acea ended down 0.4% at EUR22.52.
By Antonio Di Giorgio, Alliance News reporter
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