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KKR & Co. Inc. (NYSE:KKR) reached a deal with ENI S.p.A. (NYSE:E) to expand its ownership in Enilive by acquiring an additional 5% stake valued at 587.5 million euros (~$614.4 million).
The transaction will bring KKR’s total stake in Enilive to 30% and the investment aims to enhance Eni’s capital structure while ensuring Eni retains control and consolidation of Enilive.
This latest purchase is based on the same post-money valuation of 11.75 billion euros in equity value for 100% of Enilive’s share capital. The deal is expected to close next month.
Francesco Gattei, Chief Transition & Financial Officer of Eni, said, “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.”
The transaction price values Enilive’s total equity at 11.75 billion euros post-transaction.
The transaction aligns with the agreement signed last October 2024, in which KKR agreed to acquire a 25% stake in Enilive for 2.938 billion euros.
Related Read: Italy’s Eni Nears Deal To Sell Enilive Stake To KKR: Details
Apart from this, KKR disclosed definitive agreements to acquire a stake in Employment Hero from SEEK Investments for an undisclosed amount.
Investors can gain exposure to KKR via FM Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).
Price Action: KKR shares are trading higher by 0.93% at $141.87 premarket at the last check Tuesday.
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