06:28 AM EDT, 07/23/2024 (MT Newswires) -- KKR (KKR) signed a temporary exclusivity agreement with Eni (E) to acquire a 20% to 25% stake in the Italian energy giant's biorefining unit Enilive at a company valuation of 11.5 billion euros ($12.49 billion) to 12.5 billion euros, Eni said Tuesday.

Eni said the transaction is contingent on a definitive documentation, while both companies are "committed to negotiating the terms of a potential transaction."

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