Plenitude acquires 100% of Acea Energia and 50% of Umbria Energy for €500M

Type: Acquisition · Technology: Utilities · Country: Italy · Value: $500M · Announced: 2026-04-10

Plenitude completed the acquisition of 100% of Acea Energia S.p.A. and 50% of Umbria Energy S.p.A. from ACEA for approximately €500 million, gaining around 1.2 million customers. The transaction excluded vulnerable electricity customers, which remain under ACEA's management. The enterprise value was set at €448 million as of the locked box date of December 31, 2024, with an additional €82 million dividend paid to ACEA. An earn-out of up to €100 million is tied to operational performance by June 30, 2027. ACEA, a 116-year-old Italian utility group, specializes in water, energy, and environmental services, operating as Italy's leading water operator and a major European player.

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