Negotiations between the U.S. private equity firm KKR and the Eni group, which began at the end of July 2024, have concluded with KKR officially acquiring a stake in Enilive.
KKR acquires 25% of Enilive
This involves a temporary exclusivity agreement for the sale of a 20% to 25% stake in the company, which focuses on biorefining, biomethane production, smart mobility solutions—including Enjoy car sharing—and the marketing and distribution of various energy vectors for mobility.
As announced yesterday by both companies, KKR will acquire a 25% stake in Enilive for €2.938 billion, a figure that aligns with the potential range previously indicated by BeBeez three months ago.
Deal details
The payment of €2.9 billion will be structured in two parts: €500 million will be raised through a capital increase in Enilive reserved for KKR, while the remainder will be used to acquire shares from Eni, resulting in a post-money valuation of €11.75 billion for 100% of Enilive's equity.
The agreement also stipulates that prior to finalizing the transaction, and pending the usual legal approvals, Eni will undertake an additional capital increase of €500 million to eliminate its net financial position.
