Hogan Lovells advises banks on EIP’s 209 million Euro equity increase in ENI Plenitude
Led by partners Dr Carla Luh and Mauro Saccani, global law firm Hogan Lovells has advised a consortium of banks, represented by Mediobanca S.p.A. as agent, on the establishment of accordion facilities, supporting Energy Infrastructure Partners’ (EIP) EUR 209 million equity increase in the Italian energy transition company 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).
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