Eni in talks with Apollo, others on Plenitude stake sale, Reuters reports

Eni (E) is in talks over the possible sale of a minority stake in Plenitude, its renewable and retail business, as part of its strategy of tapping specialized investors to help fund the group’s energy transition, Reuters’ Francesca Landini reports. According to a source, Apollo (APO), Norway’s private equity fund HitecVision and London-based private equity firm Trilantic Europe are among the investors interested in the potential acquisition of a stake of around 10% in Plenitude. Talks between Eni and investors interested in the low-carbon business are based on a valuation for Plenitude of more than EUR 10B, or $11.08B, the sources say.