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DCC Energy agrees to $7.7 billion takeover led by KKR consortium
The final deal would pay shareholders $87.17 per share in cash, plus a $1.97 dividend, and an extra $1.67 if Nexora is sold for at least $800 million.
Irish energy distributor DCC Energy has agreed to be acquired by a consortium led by KKR and Energy Capital Partners, valuing the company at nearly $7.7 billion, according to OilPrice. The accepted offer is about $1 billion higher than KKR’s original bid made in June. The deal is described as one of the biggest in Europe’s energy sector for the year, with DCC positioned as a major supplier of LPG, fuel oils, and other energy products across multiple markets. DCC previously rejected the initial offer, saying it undervalued the business. Under the final terms, DCC shareholders would receive the cash equivalent of $87.17 per share, along with a final dividend of $1.97 per share. An additional $1.67 per share payment would be contingent on DCC selling its technology division, Nexora, for at least $800 million, the article notes, citing Reuters. OilPrice also links the renewed interest in energy distribution assets to heightened focus on energy security amid the war in the Middle East.