05 Dec 2025

Lawyers involved in Plenitude's acquisition of Acea Energia

"Gianni & Origoni advised Plenitude (Eni Plenitude) while GPD Studio Legale Tributario, Hogan Lovells and Legance advised ACEA in the agreement for Plenitude to acquire 100% of ACEA Energia and a 50% stake in Umbria Energy. Consideration: €460m plus normalized net cash up to €127m (total up to €587m) and a potential earn‑out up to €100m. Closing expected H1 2026."

Gianni & Origoni advised Plenitude (Eni Plenitude), while GPD Studio Legale Tributario, Hogan Lovells and Legance advised ACEA; the in‑house legal departments of Eni and Plenitude also participated in the transaction. The transaction: Eni Plenitude and ACEA entered into a binding agreement under which Plenitude will acquire 100% of the share capital of ACEA Energia, a company active in the retail energy market and wholly owned by the ACEA Group. The operation also includes the acquisition of a 50% stake in Umbria Energy. The consideration set out in the agreement provides for a cash payment to ACEA of €460 million plus recognition of normalized net cash up to €127 million, for a total consideration of up to €587 million. The agreement also includes a potential additional price component of up to €100 million to be paid to ACEA subject to certain performance targets measured at 30 June 2027. The closing is expected in the first half of 2026. Gianni & Origoni represented Plenitude with a team composed by: Raffaele Tronci (partner, lead on M&A and energy), Giuseppe Nigro (associate), Antonio Congiusta (associate); Matteo Padellaro (partner, compliance and antitrust), Mariachiara Goglione (managing associate), Giorgio Blandino (senior associate) and Amelia Rastelli (associate). The firm also engaged a multidisciplinary team of more than 40 professionals across antitrust, consumer protection, corporate, IP, privacy, energy, real estate, litigation, tax, administrative/golden power, financial markets and anticorruption/litigation departments to deliver a full‑service scope covering due diligence and required regulatory authorisations (antitrust, Golden Power, FSR). Eni M&A legal department represented Plenitude with a team composed by: Davide Alesso and Claudio Segna. Plenitude legal department represented Plenitude with a team composed by: Pietro Galizzi, Domenico Durante, Valentina Laroccia and Simona Righini. GPD Studio Legale Tributario represented ACEA with a team composed by: Prof. Andrea Gemma and Elisabetta Mattozzi, who coordinated the negotiation on commercial, civil and financial matters with support from internal teams covering M&A, corporate governance, golden power, antitrust and litigation. Hogan Lovells represented ACEA with a cross‑border, multidisciplinary team composed by: Patrizio Messina (partner) and Paola Barometro (partner) as leaders; Federico Urbani (senior associate) and Edoardo Pea (associate) on corporate and M&A; Christopher Thomas (partner), Domenico Gullo (partner), Francesco Pili (counsel), Deirdre Ryan (associate) and Giulia Zammataro (associate) on antitrust; Luigi Mansani (partner), Maria Luce Piattelli (counsel) and Annalisa Aurilio (associate) on industrial and intellectual property; and Paola La Gumina (counsel) on commercial contracting. Legance represented ACEA on tax matters with a team composed by: Giulio Mazzotti (partner), Simone Schiavini (managing associate) and Alberto Caputo (senior associate). They worked together with ACEA's internal tax team, coordinated by area head lawyer Alessandro De Franco and tax manager Andrea Dosa, on the transaction structuring and the tax aspects of the contractual documentation.
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