MILAN, June 23 (Reuters) - Italy's Eni said on

Monday it signed a deal with Ares Management Alternative Credit

funds worth around 2 billion euros ($2.30 billion) for

the sale of a 20% stake in its retail and renewable unit

Plenitude.

The transaction, for which Mediobanca acted as Eni's

financial adviser, gives Plenitude an equity value of 10 billion

euros, corresponding to an enterprise value of more than 12

billion euros.

The deal is part of the Italian energy group's long-term

strategy to find partners to jointly develop its businesses.

($1 = 0.8693 euros)