Eni (NYSE:E) said Thursday it agreed to sell a 25% stake in its Enilive biorefining company Enilive to KKR (KKR) for €2.94B (~$3.17B), giving the division a valuation of €11.75B, and will inject €500M into the unit to make it debt-free.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.