Latest news with #Enilive
The Star
11 hours ago
- Business
- The Star
Soccer-Serie A chief blames illegal streaming for Italy's decline
FILE PHOTO: The new logo of Serie A football league is displayed during an event to celebrate a deal between Eni biofuel unit Enilive and Italy's football league to sponsor the country's top championship Serie A in Rome, Italy July 3, 2024. REUTERS/Guglielmo Mangiapane/File Photo (Reuters) -Serie A CEO Luigi De Siervo has pointed to illegal streaming and the resulting lack of TV revenue as a factor behind Italy's struggles to nurture homegrown talent as the Azzurri strive to return to the World Cup for the first time since 2014. Once a permanent fixture at the World Cup, four-times world champions Italy find themselves in dire straits having missed out on the last two editions and at risk of missing out on a third after losing their first qualifier against Norway. Italian authorities recently intensified efforts to counter online piracy, which is costing billions of euros to broadcasters and sports leagues globally as they try to protect the value of their broadcast rights. TV rights make up the bulk of revenue for Serie A teams and De Siervo said "there is still a mountain to climb" after they lost revenue to the tune of 300 million euros ($345.15 million) last year. "Many question why our national team is in this situation and why there is a lack of talent, one reason being the losses due to piracy," De Siervo said at an event on the fight against piracy. "All the money that is lost every year is not invested in the youth teams and in the growth of our young players, a major issue that has led our national team to face many difficulties. "In addition to this, the age-old facilities do not allow the clubs and the system to obtain high revenues. This has to be changed and this law goes in the right direction." De Siervo said if they continue to lose revenue, Italy and Serie A could tumble down UEFA's coefficient rankings. "We are already far behind the Premier League and the Spanish LaLiga," he added. "If we continue like this, we will finish behind the Germans and we will end up being at the bottom of the table (of Europe's top five leagues) together with the French." ($1 = 0.8692 euros) (Reporting by Rohith Nair in Bengaluru;Editing by Christian Radnedge)
Yahoo
11-04-2025
- Business
- Yahoo
Eni pockets 3.6 billion euros from stake sales in biofuel unit to KKR
MILAN (Reuters) - Italian energy group Eni said on Friday it completed the sale of an additional 5% stake in Enilive to U.S. fund KKR, bringing the total proceeds from the disposal of two minority stakes in its biofuel unit to 3.6 billion euros ($4.1 billion). This second deal with KKR was announced in February after a previous agreement, signed in October, under which the U.S. fund bought a 25% in the unit. The 3.6 billion proceeds include a 500 million euro capital increase into Enilive, Eni said. ($1 = 0.8815 euros) Sign in to access your portfolio
Reuters
11-04-2025
- Business
- Reuters
Eni pockets 3.6 bln euros from stake sales in biofuel unit to KKR
MILAN, April 11 (Reuters) - Italian energy group Eni ( opens new tab said on Friday it completed the sale of an additional 5% stake in Enilive to U.S. fund KKR, bringing the total proceeds from the disposal of two minority stakes in its biofuel unit to 3.6 billion euros ($4.1 billion). This second deal with KKR (KKR.N), opens new tab was announced in February after a previous agreement, signed in October, under which the U.S. fund bought a 25% in the unit. The 3.6 billion proceeds include a 500 million euro capital increase into Enilive, Eni said. ($1 = 0.8815 euros)
Yahoo
18-02-2025
- Business
- Yahoo
KKR to acquire additional 5% stake in Eni's biofuel business Enilive
US investment firm KKR has entered an agreement to acquire an additional 5% stake in Italian energy major Eni's biofuel business, Enilive. The stake will be acquired for €587.5m. The additional acquisition will take KKR's total interest in Enilive to 30%. Eni stated that this deal optimises its capital structure while ensuring it retains control and continues consolidating Enilive. This latest agreement follows a deal signed in October 2024, in which KKR agreed to acquire a 25% stake in Enilive for €2.93bn. The October deal is expected to close next month. The 5% stake acquisition is based on the same total valuation of Enilive as the October deal, equal to €11.75bn. This deal is part of Eni's satellite strategy, which aims to attract investment in distinct business segments to foster their independent growth and establish their market value. Eni chief transition & financial officer Francesco Gattei said: "KKR's additional investment confirms the attractiveness of Enilive to the market. Enilive is a solid and growing company, with an important financial partner, and it will play a crucial role in reducing emissions generated by the end use of our products, which is a key aspect of our path to net zero by 2050. 'In line with our strategy, we will continue enhancing our best energy transition businesses, enabling them to create value on their own, increase their market value, open up new opportunities in the capital market, make them attractive to important future industrial and financial partners and grow their business rapidly in support of our decarbonisation path.' The closing of the transaction for the additional 5% stake in Enilive is pending customary regulatory approvals. Mediobanca served as Eni's financial adviser for the latest deal. "KKR to acquire additional 5% stake in Eni's biofuel business Enilive" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
18-02-2025
- Business
- Bloomberg
KKR Lifts Stake in Enilive as Energy Major Eni Pushes Disposals
KKR & Co. is raising its stake in Eni SpA's Enilive to 30%, as the Italian energy major pushes ahead with its plan to sell €8 billion ($8.4 billion) in assets through 2027. The US investment firm, backed by international investors including pension funds, will buy an additional 5% in Eni's mobility unit for €587.5 million according to a statement, giving it an equity value of €11.75 billion.
