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KKR-led group agrees €2.8bn Encavis takeover

RICHARD HEAP

March 12, 2024

A consortium led by private equity group KKR has agreed to buy German independent power producer Encavis AG in a deal that values the company at €2.8bn.

Encavis Group confirmed on 6th March that subsidiary Encavis AG is the subject of a takeover bid from KKR, and announced a deal on 14th March for €17.50 per share. Viessmann is a co-investor in Encavis AG in the KKR-led consortium.

Encavis reported that the group owns and manages around 3.6GW of generation capacity, and that Encavis AG owns 2.2GW of that. There is also 1.2GW more under construction.

Other companies in the group include Encavis Asset Management, which works for institutional investors, and the Italian technical services business Stern Energy.

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