Plenitude and ACEA S.p.A. have signed a binding agreement regarding the acquisition by Plenitude of a 100% equity stake in ACEA Energia, a company fully owned by the ACEA Group that operates in the energy retail market. The transaction also includes a 50% share in the capital of Umbria Energy S.p.A.

Upon completion of the transaction, Plenitude will pay ACEA €460 million, in addition to recognizing normalized net cash of up to €127 million for a total amount of up to €587 million. This consideration will be subject to standard adjustment mechanisms for this type of transaction (e.g. ticking fee / leakage).

Furthermore, the agreement provides for a possible additional price component of up to 100 million Euro, which will be payable to ACEA based on certain performance objectives to be reported as at 30 June 2027. Finalisation of the transaction, expected by June 2026, is conditional, upon authorisation by the relevant Antitrust authorities.

As a result of this acquisition, Plenitude will incorporate into its portfolio over 1.4 million retail customers in Italy, thus exceeding the total of 11 million customers in Europe and anticipating by two years the customer base target expected for 2028.

For the ACEA Group, the transaction allows consolidation of the growing focus on activities that have a strong connotation with infrastructure, in accordance with the strategy outlined in the Business Plan.

Stefano Goberti, CEO of Plenitude, commented: 
“I am very pleased with this agreement; it represents an important step in our growth journey. The combination of Plenitude and Acea Energia’s expertise will create significant synergies, reinforced by our customers’ trust in our vision.”

“This transaction will allow us to reinvest in infrastructure, innovation and sustainability and in the development of regulated businesses, generating a positive impact on the Group’s growth and results" 

Acea’s Chief Executive Officer, Fabrizio Palermo, commented 
"I wish to convey my appreciation to all the people at ACEA Energia for their contribution and for the professionalism demonstrated during these years. The recognised value of the operation is also due to their commitment.”