KKR Purchases Additional Stake in Eni's Biofuel Business
KKR, a U.S.-based investment firm, has acquired an additional 5% stake in Enilive, the biofuel arm of Italian energy giant Eni, for €587.5 million ($614.17 million). This transaction brings KKR's total ownership in Enilive to 30%.
The agreement follows an initial 25% stake purchase by KKR in October. The closing of the October deal is anticipated by the end of March.
Eni disclosed that the valuation for the additional 5% stake aligns with the previous agreement, resulting in a total consideration of €11.75 billion.
This acquisition reinforces KKR's commitment to the biofuel industry and underscores Eni's strategic efforts in decarbonizing its operations.