New York\/ Hamburg \u2014 The Ameri\u00adcan private equity inves\u00adtor KKR has made an offer of \u20ac2.8 billion ($3 billion) for the take\u00adover of the German rene\u00adwa\u00adble energy manu\u00adfac\u00adtu\u00adrer Enca\u00advis. Enca\u00advis, based on Grosse Elbstrasse in Hamburg, opera\u00adtes more than 300 wind and solar parks throug\u00adhout Europe \u2014 most of them in Germany.<\/p>\n
KKR subsi\u00addiary Blitz 21\u2013823 (BidCo) has reached an agree\u00adment on a volun\u00adt\u00adary public take\u00adover offer for all outstan\u00adding shares of Enca\u00advis at an offer price of EUR 17.50 per share.<\/p>\n
The offer price is 33% above the volume-weigh\u00adted 3\u2011month average price on March 5, 2024 and 54% above the closing price of the Enca\u00advis share of \u20ac 11.35 on the same day.<\/p>\n
The Ameri\u00adcan finan\u00adcial inves\u00adtor belie\u00adves that it has alre\u00adady secu\u00adred a major stake in Enca\u00advis, as major share\u00adhol\u00adders around the Hamburg billionaire Albert B\u00fcll want to sell their shares. B\u00fcll and his part\u00adner Corne\u00adlius Liedke are among the larger real estate inves\u00adtors in Hamburg, having built the Munds\u00adburg Tower, the Mercado in Altona and the Neue Flora musi\u00adcal thea\u00adter, among others. The moti\u00adva\u00adtion for the sale of its Enca\u00advis shares is unclear.<\/p>\n
The Manage\u00adment Board and Super\u00advi\u00adsory Board of Enca\u00advis have unani\u00admously voted in favor of the stra\u00adte\u00adgic part\u00adner\u00adship and plan to recom\u00admend that share\u00adhol\u00adders accept the offer.<\/p>\n
KKR has submit\u00adted the offer in a consor\u00adtium that also includes the Viess\u00admann Group, a German manu\u00adfac\u00adtu\u00adrer of heating and cooling systems, and the private equity inves\u00adtor Abacon Capital.<\/p>\n
The take\u00adover is subject to the achie\u00adve\u00adment of a mini\u00admum accep\u00adtance thres\u00adhold of 54.3 % of all outstan\u00adding Enca\u00advis shares and the fulfill\u00adment of stan\u00addard offer condi\u00adti\u00adons such as appr\u00adoval by super\u00advi\u00adsory autho\u00adri\u00adties, anti\u00adtrust autho\u00adri\u00adties and foreign direct investors.
\nThe tran\u00adsac\u00adtion is expec\u00adted to be comple\u00adted in the fourth quar\u00adter of 2024.<\/p>\n
Enca\u00advis is then delis\u00adted from the stock exch\u00adange and trans\u00adfer\u00adred to private ownership.<\/p>\n","protected":false},"excerpt":{"rendered":"
New York\/ Hamburg \u2014 The Ameri\u00adcan private equity inves\u00adtor KKR has made an offer of \u20ac2.8 billion ($3 billion) for the take\u00adover of the German rene\u00adwa\u00adble energy manu\u00adfac\u00adtu\u00adrer Enca\u00advis. Enca\u00advis, based on Grosse Elbstrasse in Hamburg, opera\u00adtes more than 300 wind and solar parks throug\u00adhout Europe \u2014 most of them in Germany. KKR subsi\u00addiary Blitz [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":51222,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1367,1369],"tags":[],"class_list":["post-51224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-investors"],"yoast_head":"\n