Milan, 10 April 2026 – Further to what was previously communicated, Plenitude and ACEA announce the completion of Plenitude’s acquisition of 100% of the share capital of Acea Energia S.p.A. and 50% of the share capital of Umbria Energy S.p.A.
Plenitude will gain approximately 1.2 million customers as part of the deal, which was approved by the regulatory authorities. Vulnerable electricity customers are excluded from the scope of the deal and will continue to be managed within the ACEA Group.
The total consideration paid for the acquisition is approximately €500 million, taking into account an Enterprise Value of €448 million (updated to reflect the new perimeter of the transaction), net cash normalized as of 31 December 2024 (the “locked box date”) and other adjustments relating to the ticking fee and any leakages incurred, including the dividend distributed to ACEA of approximately €82 million. An additional potential price component of up to €100 million will be granted to ACEA based on operating performance to be assessed as of 30 June 2027.
Plenitude operates in more than 15 countries worldwide with a business model that integrates the generation of electricity from 5.8 GW of renewable sources, the sale of energy and energy solutions across Europe — serving over 11 million customers — and a network of 23,000 public charging points for electric vehicles. By 2030, the company aims to reach 15 GW of renewable capacity globally, 15 million customers, and 30,000 public EV charging points.
ACEA is one of Italy’s leading industrial groups, listed on the stock exchange since 1999, and specializes in the management and development of networks and services in the water, energy, and environmental sectors. For 116 years, the Group has been the largest water operator in Italy and the second-largest in Europe, and it operates internationally in Latin America. ACEA aims to strengthen its position as a major infrastructure operator focused on regulated businesses. Every day, ACEA’s people work by applying sustainability criteria with a forward-looking and strategic approach. The Group creates value for people and communities through its commitment to the environment, resources, and local territories.
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