KKR & Co. acquires German renewable energy producer Encavis AG in a €2.8bn deal, offering €17.50/share, backed by Viessmann investment.
Private equity firm KKR & Co. has agreed to acquire German renewable energy producer Encavis AG in a €2.8bn ($3bn) deal, offering to purchase all Encavis shares at €17.50 ($19.13) each in cash. The deal, which represents a 54% premium over the closing price on March 5, will see KKR offer support to Encavis' management board. Viessmann, a German family business, will also invest as a shareholder in the KKR-led consortium. Encavis, which owns over 80 wind farms and more than 200 solar parks in Europe, provides clean energy to over 2.2 million households.
March 14, 2024
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