KKR completes acquisition of additional stake in Enilive

Italian multinational supermajor Eni S.p.A. announced April 11 that it and KKR have closed the transaction announced in February for KKR to increase its stake in Enilive.

Enilive is Eni’s mobility-transformation company that includes biorefining, among other assets.

KKR purchased an additional 5 percent of the shares of Enilive for approximately 601-million euros (USD$684.3 million).

This followed KKR’s original acquisition of 25 percent of Enilive’s shares last fall.

Upon completion of the transaction, KKR owns an overall 30 percent stake of Enilive’s share capital. 

The transaction confirms a post-money valuation of 11.75-billion euros (USD$13.4 billion) of equity value for 100 percent of Enilive’s share capital. 

The overall proceeds for Eni group amount to 3.6-billion euros (USD$4.1 billion), including a capital increase in Enilive of 500-million euros (USD$569.4 million) to support the company's growth plan.

The transaction has been approved by the competent authorities.