MILAN (Reuters) - Italian energy group Eni said on Thursday that U.S. fund KKR would take a 25% stake in Enilive, in a deal that values the entire biofuel unit at 11.75 billion euros ($12.68 billion).

The agreed consideration for the stake is 2.938 billion euros.

KKR's investment improves Eni capital structure, reducing its net financial position while ensuring that Eni retains consolidation and control of Enilive, the company said.

($1 = 0.9270 euros)

(Reporting by Claudia Cristoferi, editing by Gianluca Semeraro)