KKR-takes-25-stake-in-Eni-biorefining-business-Enilive

KKR takes 25% stake in Eni biorefining subsidiary Enilive

Italy

SAN DONATO MILANESE, October 25, 2024 – Global investment firm KKR has agreed to take a 25% stake in Enilive, Eni’s sustainable mobility and biorefining subsidiary, the companies announced on Thursday.

The total agreed consideration is EUR 2.9 billion, which includes a EUR 2.4-billion share purchase and a EUR 500-million capital increase reserved to KKR. Prior to the completion of the transaction, Eni will inject an additional EUR 500 million into Enilive to offset the company’s existing debt.

Enilive is engaged in biorefining, biomethane production and smart mobility solutions such as car sharing. The company also markets and distributes fuel through a network of more than 5,000 service stations across Europe.

“This partnership aligns with our strategy to support transformative energy projects across Europe. With our global infrastructure platform and local expertise, we’re excited to help Enilive scale its impact in decarbonising transportation and expand internationally. We look forward to contributing to its continued growth and success,” said Alberto Signori, partner in KKR’s European Infrastructure team.

Eni will retain consolidation and control of Enilive after the deal, which is subject to customary regulatory approvals.

Photo of Gela biorefinery courtesy of Eni