KKR to buy additional 5% stake in Eni biofuel business

Feb 18 (Reuters) - U.S. fund KKR KKR.N has signed an agreement with Italy's Eni ENI.MI to buy an additional 5% stake in Eni's biofuel business Enilive for 587.5 million euros ($614.17 million), bringing its total stake to 30%, the energy group said on Tuesday.

KKR signed an agreement in October to buy a 25% stake in Enilive. The closing of the October deal is expected by the end of March.

Eni said the additional 5% stake sale is based on the same overall valuation as the October agreement, equal to a consideration of 11.75 billion euros.

($1 = 0.9566 euros)