Eni mentioned that this move helps optimize its capital structure while keeping control and further consolidating Enilive. This agreement comes on the heels of a previous deal from October 2024, where KKR agreed to take a 25% stake in Enilive for €2.93 billion, which is set to finalize next month.
The valuation for this new 5% stake remains consistent with the October deal, pegging Enilive's worth at €11.75 billion. This initiative is part of Eni's strategy to attract investments in specific business areas, promoting their independent growth and market value.
Francesco Gattei, Eni's chief transition and financial officer, commented that KKR's further investment highlights Enilive's market appeal. He emphasized that Enilive is a robust and expanding company with a significant financial partner, crucial for reducing emissions from their products, aligning with Eni's goal of achieving net zero by 2050.
Eni plans to keep enhancing its top energy transition businesses, allowing them to thrive independently, boost their market value, and attract future industrial and financial partners, all while accelerating their decarbonization efforts.
The deal for the additional 5% stake in Enilive is awaiting the usual regulatory approvals. Mediobanca acted as Eni's financial adviser for this transaction.