Eni and KKR have signed an agreement under which KKR will take a 25% stake in Enilive’s share capital.

The total agreed consideration amounts to €2.938 billion, to be funded through: 1) the subscription of a capital increase in Enilive reserved to KKR amounting to €500 million; 2) the purchase of Enilive’s shares from Eni for a value of €2.438 billion, corresponding to a post-money valuation of € 11.75 billion of Equity Value for 100% of Enilive’s share capital.

Furthermore, according to the agreement, Eni will undertake a capital increase in Enilive of €500 million prior to the completion of the transaction.

The transaction brings together Eni’s proven ability to develop high-growth energy businesses and KKR’s expertise as a long-term investor with a strong track record in the energy and infrastructure sectors, further contributing to the growth of Enilive.

Closing of the transaction is subject to customary approvals provided by law.

PedersoliGattai advised Eni in all legal aspects of the transaction, with a team led by Bruno Gattai (managing partner) and composed of Giovan Battista Santangelo (partner), Damiano Battaglia (partner), Jacopo Ceccherini (counsel), Beatrice Gattoni (senior associate), Giacomo Taidelli and Riccardo Cerati (associates).