Eni signs agreement with Kkr to divest a stake in Enilive: 20-25% package on the table

Eni is moving forward on the road to enhancing the value of its assets. The group announced today, Tuesday 23rd July, the signing of a temporary exclusive agreement with Kkr, a global investment company, which has set its sights on the acquisition of a minority stake in Enilive, the company of the group led by Claudio Descalzi dedicated to biorefining, biomethane production, smart mobility solutions, and the marketing and distribution of all energy vectors for mobility, also thanks to a network of over 5,000 Enilive Stations.

The agreement will trigger the start of the due diligence phase and the completion of the drafting of the documentation for the sale of a stake of between 20% and 25% in Enilive, based on a valuation of the company of between EUR 11.5 and 12.5 billion. This phase will serve the two groups to find a balance, the identification of which will depend on reaching an agreement on the final documentation.

With the start of the negotiations with Kkr, Eni confirms the soundness of the development of its satellite model strategy, aimed at attracting strategic capital from valuable partners on the basis of attractive multiples, financing its growth and confirming the value the company is creating in its new businesses.

However, this step may not represent the last move on Enilive, given the strong interest shown in this period by leading institutional financial investors. The group, reads the note released before the opening of the stock exchange, could also consider the subsequent sale of a further stake of up to 10% in the company.