Plenitude Capital Boost with €209M Investment from EIP
Deal News | Nov 11, 2024 | Finance Community IT - 1 Corporate M&A
Mediobanca and Rothschild & Co have facilitated a significant investment deal involving Eni, Plenitude, and Energy Infrastructure Partners (EIP). This deal sees an increase in EIP's stake in Plenitude to 10%, following a capital increase of approximately €209 million. The transaction values Plenitude at an equity value of €8 billion and an enterprise value of €10 billion. As part of the strategic financing, Plenitude's financial structure is strengthened, aiding its growth strategy while ensuring Eni maintains control. Advisors on the deal included key personnel from both Mediobanca and Rothschild & Co, underscoring the importance of expert guidance in sophisticated corporate financial transactions. The agreement fits into Eni’s strategic model, focused on maximizing independent growth potential within high-value business segments and accessing strategic capital pools. Completion is subject to standard legal approvals.
Sectors
- Energy
- Financial Advisory
Geography
- Italy – The deal involves Italian entities Eni and Plenitude, and advisory roles are fulfilled by Mediobanca and Rothschild's Italian offices, highlighting Italy as a central geography in this transaction.
Industry
- Energy – The primary industry involved is Energy, as the transaction centers on Eni, a major player in the energy sector, and Plenitude, reinforcing their roles and investments in the energy infrastructure space.
- Financial Advisory – Both Mediobanca and Rothschild & Co are involved as financial advisors, showcasing the significance of financial advisory services in managing complex investment and M&A activities.
Financials
- €209 million – The amount of the capital increase EIP invested in Plenitude to raise its stake to 10%.
- €800 million – The total investment made by EIP into Plenitude, including previous investments.
- €8 billion – Plenitude's equity value following the investment transaction.
- €10 billion – Plenitude's enterprise value post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Plenitude | Target | Company | Plenitude is the target company receiving investment to strengthen its financial structure and support growth. |
| Eni | Selling Company | Company | Eni is involved as the controlling entity of Plenitude, ensuring the strategic alignment and leveraging the investment to maintain control. |
| Energy Infrastructure Partners (EIP) | Bidding Company | Company | EIP is increasing its stake in Plenitude, reflecting its investment and growth strategy in the energy sector. |
| Mediobanca | Financial Advisor | Company | Mediobanca acted as the financial advisor for Eni in this transaction, contributing expertise and advisory services. |
| Rothschild & Co | Financial Advisor | Company | Rothschild & Co provided financial advisory for EIP, showcasing their M&A and debt advisory capabilities. |