KKR Secures Stake in Enilive After Eni Transaction Closure
Deal News | Mar 06, 2025 | Finance Community IT - 1 Corporate M&A
KKR has completed the acquisition of a 25% stake in Enilive from Eni, a deal that was initially announced in October. The total proceeds for Eni, including cash adjustments, amount to €2.967 billion, which also encompasses a €500 million capital increase in Enilive to support growth. This transaction reinforces Enilive's standing in Eni's business by showcasing an integrated model, further manifesting its valuation which amounts to €11.75 billion for the entire equity. KKR has committed to further increasing its stake in Enilive by an additional 5%, once regulatory clearances are obtained. The deal involved high-profile financial advisors such as Mediobanca, JPMorgan, Deutsche Bank, and UniCredit, with legal counsel provided by Kirkland & Ellis, Gianni & Origoni, and PedersoliGattai.
Sectors
- Private Equity
- Energy
- Corporate Finance
Geography
- Italy – This deal primarily involves Italian entities, namely Eni and Enilive, and was facilitated by financial institutions operating in Italy.
Industry
- Private Equity – The article involves a leading private equity firm, KKR, making a strategic investment in a company, thereby classified under the private equity sector.
- Energy – Enilive, as a significant player in the energy sector and being part of Eni, this transaction is rooted in the energy industry's dynamics.
- Corporate Finance – The involvement of multiple financial advisors and the capital raise highlight the role of corporate finance in facilitating major transactions.
Financials
- 2,967,000,000 EUR – Total proceeds Eni received from the sale of its 25% stake in Enilive.
- 500,000,000 EUR – Capital increase in Enilive to support its growth plan.
- 11,750,000,000 EUR – Post-money equity value for 100% of Enilive's capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KKR | Bidding Company | Company | A leading global investment firm acquiring a stake in Enilive. |
| Enilive | Target Company | Company | A unit under Eni, engaged in an integrated energy business, which KKR has acquired a stake in. |
| Eni | Selling Company | Company | An Italian energy conglomerate selling a stake in its subsidiary, Enilive. |
| Mediobanca | Financial Advisor for Seller | Company | Provided financial advisory services to Eni. |
| JPMorgan | Lead Financial Advisor for Enilive | Company | Led financial advisory services for Enilive. |
| Deutsche Bank | Financial Advisor for KKR | Company | Provided financial advisory services to KKR. |
| UniCredit | Financial Advisor for KKR | Company | Advised KKR on various financial facets of the deal. |
| Kirkland & Ellis | Legal Advisor for KKR | Company | Handled legal matters for KKR during the acquisition. |
| Gianni & Origoni | Legal Advisor for KKR | Company | Law firm advising KKR on legal aspects. |
| PedersoliGattai | Legal Advisor for Eni | Company | Assisted Eni with legal matters regarding the operation. |