Plenitude, Eni postpones the listing of its “green” subsidiary: “Markets too uncertain”

Eni postpones the listing of Plenitudethe subsidiary created to manage investments in renewable and customers electricity & gas. This was announced by the group from San Donato Milanese with a note, in which it explains that “from the announcement by Eni and Plenitude of the Intention to float (the intention to open up to the market, ed), last June 9, the market conditions yes. I am deteriorated. Although the two companies encountered a loud And widespread interest for Plenitude, as well as a significant consensus on its strategy, Eni has assessed that the volatility and theuncertainty which currently involve the markets require a further phase of monitoring ”, reads. Eni and Plenitude – concludes the note – “will therefore continue to monitor the market and to develop its strategy of offering decarbonised energy to all its customers, through the development of investments in renewables and electric mobility “.

It took a few – decisive – days to change the mind of the group led by Claudio Descalzi. In the two weeks that have passed since the announcement of the listing, the Russian giant Gazprom tightened the gas taps, the price of raw materials started to rise again, the stock exchanges found themselves dealing with the alarm of the various European countries and like a boulder the increasingly concrete specter of a world recession. Eni had specified that it wanted to keep the majority of shares (around 80%) of Plenitude, valued last year by the market at between 8 and 9 billion euros, excluding the discount naturally required by the market. Descalzi was not unbalanced on the timing of the operation, but market indiscretions had hypothesized the start by the end of June.

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