09:33 AM EST, 11/05/2025 (MT Newswires) -- Ares Management ( ARES ) said Wednesday that Ares Alternative Credit funds, together with other Ares-affiliated funds, have closed the acquisition of a 20% stake in Eni's (E) renewable energy unit Plenitude for 2 billion euros ($2.29 billion).

The company said the deal has an implied enterprise value of more than 12 billion euros.