KKR Boosts Enilive Ownership To 30% With ~$614 Million Investment: Details

KKR & Co. Inc. (NYSE: KKR) has expanded its ownership in Enilive, the mobility transformation and biofuels-focused business of Italian energy major Eni, by acquiring an additional 5% stake valued at approximately $614.4 million. This latest purchase brings KKR's total stake in Enilive to 30%, optimizing Eni's capital structure while maintaining its control and consolidation of the business.

The transaction is in line with the agreement signed between KKR and Eni last October for KKR's acquisition of a 25% stake in Enilive's share capital, which is expected to close by next month. The additional investment is based on the same post-money valuation of €11.75 billion of Equity Value for 100% of Enilive's share capital.

Francesco Gattei, Chief Transition & Financial Officer of Eni, commented on the deal: "KKR's additional investment confirms the attractiveness of Enilive to the market. Enilive is a solid and growing company, with an important financial partner, and it will play a crucial role in reducing emissions generated by the end use of our products, which is a key aspect of our path to Net zero by 2050."

KKR's further investment in Enilive, backed by leading international co-investors, including large international pension funds, underscores market recognition and the solidity of Enilive's business model. The transaction highlights the validity of Eni's satellite strategy, effectively attracting capital for specific business segments, enabling their independent growth, and providing visibility into their fair market value.



Enilive's biorefining and biomethane production capabilities are key to reducing emissions in the mobility sector. KKR recognizes the potential of these technologies to provide progressively decarbonized services and products, contributing to Eni's goal of achieving carbon neutrality by 2050. Enilive's smart mobility solutions, such as Enjoy car sharing, also offer innovative and effective emission-reducing technology solutions, aligning with KKR's strategy to support transformative energy projects across Europe.

KKR's additional investment in Enilive, valued at €587.5 million (~$614.4 million), brings its total stake in Enilive to 30%. This latest purchase is based on the same post-money valuation of €11.75 billion in equity value for 100% of Enilive's share capital, indicating that KKR remains confident in the company's growth potential and market attractiveness. The Enilive investment aligns with KKR's global infrastructure strategy and commitment to supporting transformative energy projects across Europe, as well as its consistent investment in Italy across asset classes since 2005.