Says sales based on valuation of Enlive of 11.5-12.5 bln eur (Il Sole 24 Ore Radiocor) - Milan, 23 Jul - Italian energy group Eni said it has signed a temporary exclusivity agreement with private equity KKR to progress the due diligence phase and complete the drafting of the documents related to the sale of a 20-25% stake in Enilive, the unit dedicated to biorefining, biomethane production, and smart mobility solutions.

Eni said that the talks are based on a valuation of Enlive of between 11.5-12.5 billion euros.

"While a final transaction is subject to agreeing definitive documentation, both parties are committed to negotiating the terms of a potential transaction," Eni said.

"This step represents another example of the development of Eni's satellite model strategy, attracting strategically aligned capital from valuable new partners at attractive multiples, funding our growth and confirming the value we are creating in these new businesses. The strong interest shown in this period by leading institutional financial investors could lead to the subsequent sale of a further stake of up to 10% of Enilive.".

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(RADIOCOR) 23-07-24 08:01:57 (0102) 5 NNNN