11:41 AM EDT, 10/25/2024 (MT Newswires) -- KKR (KKR) is tapping around 1.5 billion euros ($1.63 billion) of debt to fund its purchase of a minority stake in Eni's (E) Enilive unit, Bloomberg reported Friday, citing a person with knowledge of the matter.

Ares Management ( ARES ) will provide 700 million euros in infrastructure financing, while banks will underwrite the rest of the amount, the report said.

KKR will pay about 2.94 billion euros for a 25% stake in Enilive, the Italian oil major said Thursday.

KKR did not immediately reply to MT Newswires' requests for comment. Ares declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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