Hogan Lovells advises banks on EIP’s 209 million Euro equity increase in ENI Plenitude

As a leading investor in the energy transition, Swiss-based EIP will have a stake of 10% of Plenitude’s share capital following the transaction. This will increase EIP’s total investment to approximately EUR 800 million. In March 2024, EIP has already acquired a minority stake in Plenitude, ENI’s energy transition company (Largest renewables deal in Italy: Hogan Lovells advises banks on financing package supporting EIP’s investment in Eni Plenitude), which has been launched in 2021 as a cornerstone of its decarbonisation strategy. The transaction recognises an equity value of Plenitude post-money of about EUR 8 billion and an enterprise value of more than EUR 10 billion.

Hogan Lovells has advised the banks on all aspects of the financing package with a cross-border team spanning Italy, Germany and Luxembourg.

Dr Carla Luh, Head of the German finance practice said:

"We are pleased to support EIP and the banks in this significant transaction that reinforces Plenitude’s role in advancing the energy transition. With a strong, cross-border team, we were able to tailor the financing package to meet our clients' needs effectively."

Hogan Lovells team for the banks

Germany: Dr Carla Luh (Partner), Dr Alexander Wandt (Counsel), Julian Schulz (Associate);

Italy: Mauro Saccani, Luca Picone (Partners), Gianluca Ceci (Associate), Pierluca Carbone, Giovanni Quaggiotti, Lorenzo Bertola (Trainee);

Luxembourg: Pierre Reuter, Ariane Mehrshahi (Partners), Valerie Laskowski (Senior Associate), Carla Valdes Cortes (Associate).