(Reuters) – U.S. fund KKR has signed an agreement with Italy’s Eni to buy an additional 5% stake in Eni’s biofuel business Enilive for 587.5 million euros ($614.17 million), bringing its total stake to 30%, the energy group said on Tuesday.
KKR signed an agreement in October to buy a 25% stake in Enilive. The closing of the October deal is expected by the end of March.
Eni said the additional 5% stake sale is based on the same overall valuation as the October agreement, equal to a consideration of 11.75 billion euros.
($1 = 0.9566 euros)
(Reporting by Alberto Chiumento; Editing by David Goodman)
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