Eni in Talks to Sell Minority Stake in $13-Billion Biofuel Unit

Italian energy major Eni said on Tuesday it had signed an exclusivity agreement with investment firm KKR to proceed with the due diligence phase in a potential sale of 20-25% in its biorefining and smart mobility solutions provider Enilive, based on a valuation of the company of between $12.5 billion (11.5 billion euros) and $13.6 billion (12.5 billion euros). “This step represents another example of the development of Eni's satellite model strategy, attracting strategically aligned capital from valuable new partners at attractive…