Italy's Eni Nears Deal To Sell Enilive Stake To KKR: Details
Portfolio Pulse from Lekha Gupta
Eni S.p.A. (NYSE:E) has entered a temporary exclusivity agreement with KKR & Co. Inc. (NYSE:KKR) to sell a 20% to 25% stake in Enilive, valued between €11.5 billion and €12.5 billion. This move aligns with Eni's strategy to attract new partners and fund growth. The valuation exceeds market expectations, potentially leading to the sale of an additional 10% stake. Eni's shares are down 0.39%, while KKR's shares are up 0.56%.
July 23, 2024 | 5:27 pm
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NEUTRAL IMPACT
Investors can gain exposure to Eni via The Advisors' Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:CAMX).
While CAMX provides exposure to Eni, the direct impact on the ETF is less pronounced compared to individual stocks. The ETF's performance will depend on broader market trends and other holdings.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Eni S.p.A. is nearing a deal to sell a 20% to 25% stake in Enilive to KKR, with a valuation between €11.5 billion and €12.5 billion, exceeding market expectations. This move supports Eni's strategy to attract new partners and fund growth.
The deal aligns with Eni's strategy and the high valuation exceeds market expectations, which is positive for Eni. However, the stock is currently down, possibly due to market volatility or other factors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
KKR & Co. Inc. has secured a temporary exclusivity agreement with Eni to purchase a 20% to 25% stake in Enilive, valued between €11.5 billion and €12.5 billion. This high valuation is above market expectations.
The high valuation and exclusivity agreement are positive for KKR, indicating strong interest and potential for future growth. The stock is currently up, reflecting investor optimism.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100