(Alliance News) - Plenitude and Acea Spa announced on Friday the completion of Plenitude's acquisition of 100% of the share capital of Acea Energia Spa and 50% of the share capital of Umbria Energy Spa.
Through this transaction, which has received regulatory approval, Plenitude acquires approximately 1.2 million customers, according to a joint statement issued by the companies.
Vulnerable electricity customers are excluded from the scope of the transaction and will remain under the management of the Acea group.
The consideration paid, amounting to approximately EUR500 million, reflects an Enterprise Value of EUR448 million (adjusted for the new transaction perimeter), normalized net cash as of December 31, 2024, and other adjustments for ticking fees and leakage, including a dividend of approximately EUR82 million distributed to Acea.
A potential earn-out of up to EUR100 million will be payable to Acea based on operational performance metrics to be assessed as of June 30, 2027, the statement concluded.
On Friday, Eni shares closed down 2.0% at EUR23.95, while Acea finished flat at EUR23.60 per share.
By Claudia Cavaliere, Alliance News reporter
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