KKR Increases Stake in Enilive with €601 Million Acquisition
Deal News | Apr 14, 2025 | Legal Community Italy
KKR, assisted by the legal firms Kirkland & Ellis and Gianni & Origoni, has completed the acquisition of an additional 5% stake in Enilive from Eni for €601 million. This acquisition increases KKR's total holding in Enilive to 30% and confirms a post-money equity valuation of €11.75 billion for Enilive. The total proceeds for Eni amount to €3.6 billion, which includes a capital increase of €500 million to support Enilive's growth plan. The transaction involved detailed legal advisement across corporate finance, antitrust, tax, environmental, and other specialized legal sectors. Eni was advised by PedersoliGattai throughout the transaction process.
Sectors
- Private Equity
- Energy
- Legal Services
Geography
- Italy – Enilive and Eni are based in Italy, and the legal proceedings involving Italian law firms highlight the geographical focus of the transaction.
Industry
- Private Equity – KKR, a major private equity firm, is at the center of this acquisition, indicating active engagement in expanding investments.
- Energy – Enilive, targeted by the acquisition, operates in the energy sector, which is essential to understanding the nature of the investment.
- Legal Services – Multiple legal advisories were employed, indicating significant legal involvement in the M&A process.
Financials
- €601 million – The purchase price for an additional 5% stake in Enilive by KKR.
- €11.75 billion – The post-money equity valuation of Enilive for the full 100% stake.
- €3.6 billion – Total proceeds from the sale for Eni, including a €500 million capital increase.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KKR | Bidding Company | Company | KKR is a global investment firm acquiring a more significant stake in Enilive. |
| Enilive | Target Company | Company | Enilive is the company in which KKR has acquired an additional stake. |
| Eni | Selling Company | Company | Eni is the parent company selling a 5% stake in Enilive to KKR. |
| Kirkland & Ellis | Legal Advisor | Other | Kirkland & Ellis advised KKR on the acquisition. |
| Gianni & Origoni | Legal Advisor | Other | Gianni & Origoni also provided legal advice to KKR. |
| PedersoliGattai | Legal Advisor | Other | PedersoliGattai advised Eni in the transaction. |