On October 24, the Italian hydrocarbon giant Eni signed an agreement on the sale to the American investment fund KKR of a 25% stake in Enilive, its subsidiary specialized in biorefining, for 2.9 billion euros.

In a press release published by Eni, it is stated that the transaction values the entire subsidiary at 11.75 billion euros. He believes that this sale “strengthens the financial structure” of Enilive. Through this agreement, Eni will carry out a capital increase of 500 million euros before finalizing the transaction “in order to create a debt-free company

ENILive specializes in biorefining, biomethane production and smart mobility solutions, including the car-sharing company Enjoy. It plans to increase its biorefinery capacity to more than 3 million tons per year by 2026, double the end of 2023, and more than 5 million tons by 2030. For its part, KKR is investing in Enilive “to accelerate sustainable mobility and the energy transition