Tensile and Portobello receive 160 million dividend from Plenergy
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Plenergy, a company with over 400 service stations in Spain and Portugal, plans to refinance its debt by raising €470 million. The company, formerly known as Plenoil, was acquired by investment funds Tensile Capital and Portobello in 2024. Plenergy aims to use the funds to pay a €160 million dividend to its shareholders and repay existing debt.
The company has been rated B1 and B+ by Moody's and Fitch, respectively, indicating a high-risk investment. Plenergy's earnings grew 76% between January and July, and it invests around €80 million annually in new service stations.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
