Ares, Banks to Fund KKR's Buyout of Minority Stake in Eni Unit [Yahoo! Finance Canada]
ENI S.p.A. (E)
US:NYSE Investor Relations:
eni.com/en_it/investors.page
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg KKR will use around €1.5 billion ($1.6 billion) of debt, of which Ares is to provide €700 million in infrastructure financing, with the banks underwriting the rest, said a person with knowledge of the matter. The lenders include both international and Italian banks, the person said, on the condition of anonymity. The US investment firm is paying over €2.9 billion in total to purchase a 25% stake in the unit of Eni SpA, according to a statement from Eni on Thursday. This gives Enilive, Eni's biorefining and mobility unit, a total valuation of around €11.8 billion. Representatives for KKR and Ares declined to comment. The move by Ares follows increasing interest by private capital in infrastructure debt. In a paper published at the beginning of the year, Ares said that this asset class could reach $1.5 trillion in size, as constrained public investment and bank retrenchment has created a supply and demand imbalance for funding. For energy company Eni,
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- 11/20/24 - Form 6-K
- 11/13/24 - Form 6-K
- 11/6/24 - Form 6-K
- E's page on the SEC website