KKR Expands Stake in Enilive with €587.5 Million Investment to Strengthen Sustainable Mobility Strategy

KKR Expands Stake in Enilive with €587.5 Million Investment to Strengthen Sustainable Mobility Strategy

(IN BRIEF) KKR has increased its stake in Enilive by purchasing an additional 5% of the company’s share capital, with a €587.5 million investment. This move aligns with KKR’s previously announced commitment and underscores the market’s confidence in Enilive’s business model focused on sustainable mobility. The transaction will strengthen Eni’s capital structure while maintaining its control over Enilive.

(PRESS RELEASE) MILAN, 18-Feb-2025 — /EuropaWire/ — Eni and KKR have reached an agreement that will see KKR boost its stake in Enilive by acquiring an additional 5% of the company’s shares, investing €587.5 million. This increased investment brings KKR’s total ownership of Enilive’s share capital to 30%, while Eni retains control and consolidation of the business. The deal is part of an ongoing strategic collaboration between the two parties, following a previous agreement in October, under which KKR acquired a 25% stake in Enilive, a transaction expected to be finalized next month.

The investment comes with a post-money valuation of €11.75 billion for 100% of Enilive’s equity. This growth in KKR’s shareholding reflects the confidence investors have in Enilive’s model, particularly its integrated services and its commitment to decarbonizing products in the sustainable mobility sector. Additionally, the move highlights the strength of Eni’s satellite strategy, which involves attracting capital to specific business segments, facilitating their independent growth, and providing transparency regarding their market value.

KKR’s further involvement in Enilive, supported by a consortium of prominent international co-investors, including major pension funds, signals strong market recognition and confidence in the company’s trajectory. Enilive’s model, which emphasizes sustainability and progressive decarbonization, has positioned the company as a key player in the sector.

The finalization of this 5% stake acquisition is still subject to regulatory approval from the relevant authorities.

Francesco Gattei, Chief Transition & Financial Officer of Eni, commented on the deal, stating: “KKR’s additional investment reaffirms the attractiveness of Enilive in the market. As a growing company with a solid financial partner, Enilive will be instrumental in reducing emissions from the end-use of our products, which is crucial for our path to Net Zero by 2050. In line with our strategy, we will continue to bolster our best energy transition businesses, enabling them to create independent value, enhance their market standing, attract industrial and financial partners, and accelerate their growth in support of our decarbonization goals.

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SOURCE: Eni