Latham & Watkins Advises Ares Management Corporation’s €2 Billion Acquisition of a Minority Stake in Plenitude

Ares Management Corporation (Ares) (NYSE: ARES), a leading global alternative investment manager, has announced that Ares Alternative Credit funds (Ares Alternative Credit) have entered into a definitive agreement for the acquisition of a 20% stake in Plenitude, a leader in energy transition controlled by Eni, for approximately €2 billion. The consideration implies an enterprise value for Plenitude of over €12 billion. Completion of the transaction is subject to customary regulatory approvals.

Latham & Watkins LLP represents Ares in the transaction with a multidisciplinary real assets private equity and credit team led by London partner Calvin Ng, with global relationship partner Michelle Kelban, London partner Jeremy Trinder, counsel James Beeson, and associate Kwabena Boateng. Advice on financing matters was provided by London partner Charles Armstrong, with associate Julie van der Meersche; on antitrust matters by Paris partner Adrien Giraud, with associate Louis-Victor Sachs; on FERC matters by Washington D.C. partner Tyler Brown; on FDI matters by counsel Philipp Studt, with associate Panagiotis Kokkinidis; on compliance matters by New York partner Matthew Salerno and counsel Ruchi Gill; on data protection matters by associate Alice Brunning and on Italian legal matters by London partner Cataldo Piccarreta and counsel Erika Brini Raimondi, with associate Luca Maranetto.