Ares, Banks to Fund KKR’s Buyout of Minority Stake in Eni Unit
- KKR will tap €1.5 billion of debt in total for the acquisition
- Private capital is increasingly looking at infrastructure debt
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Ares Management Corp. and a group of banks is funding KKR & Co.’s buyout of a minority stake in Italy’s Enilive.
KKR will use around €1.5 billion ($1.6 billion) of debt, of which Ares is to provide €700 million in infrastructure financing, with the banks underwriting the rest, said a person with knowledge of the matter. The lenders include both international and Italian banks, the person said, on the condition of anonymity.