03:21 AM EDT, 06/23/2025 (MT Newswires) -- Ares Management ( ARES ) said Monday it has agreed to acquire a 20% stake in Plenitude, a renewable energy company controlled by Eni (E), for about 2 billion euros ($2.3 billion), subject to regulatory approvals.

Plenitude has over 4 gigawatts of renewable energy production and serves more than 10 million customers, Ares said.

The deal implies an enterprise value of more than 12 billion euros for Plenitude, Ares said.