DCC Energy Agrees to $5.7 Billion-Plus Takeover by KKR, Energy Capital

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessDCC Energy Agrees to $5.7 Billion-Plus Takeover by KKR, Energy CapitalKKR & Co. and Energy Capital Partners have agreed a deal to acquire DCC Energy Plc for more than £5.7 billion ($7.6 billion) following a drawn-out chase for the provider of energy sales and distribution.Author of the article:Swetha Gopinath and Fareed Sahloul You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — KKR & Co. and Energy Capital Partners have agreed a deal to acquire DCC Energy Plc for more than £5.7 billion ($7.6 billion) following a drawn-out chase for the provider of energy sales and distribution.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe private equity firms will pay £66.72 a share, including a dividend, according to a statement Monday. Under terms of a sweetened offer outlined earlier this month, DCC shareholders also stand to receive up to £1.25 per share if the company achieves at least $800 million from the sale of its technology distribution business Nexora.DCC shares closed at £62.85 in London on Friday, giving the company a market value of about £5.4 billion. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againDublin-headquartered DCC distributes fuel and gas to commercial and industrial, public and domestic sectors across Europe and the US. A sale of the company will mark the loss of one of the last Irish names in the UK’s benchmark FTSE 100 index, after firms including CRH Plc and Flutter Entertainment Plc sought US listings. Takeovers of London-listed companies has been one of the dominant themes in mergers and acquisitions this year, thanks to host of high-profile deals involving the likes of asset manager Schroders Plc and ingredients maker Tate & Lyle Plc. Bloomberg-compiled data show the UK stock market is losing the equivalent of more than $2 billion a week to such takeovers, raising fresh concerns about the future of London as a global business hub.KKR and ECP’s pursuit of DCC has been one of the longest running M&A stories in the UK this year, with four extensions to bid deadlines in little more than a month. DCC said in June it was prepared to accept a takeover, only to see some of its largest shareholders, including Aviva Plc and Fidelity International, express displeasure with the price. Donal Murphy, chief executive officer DCC, said in an interview that the company wouldn’t now be recommending the offer from KKR and ECP if it wasn’t confident of getting shareholder approval. “If you look at the institutional shareholders that have been been vocal and have talked about a price, the difference is very modest between where the consortium’s offer is and their view on value,” Murphy said. (Updates with context, CEO quotes throughout.)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.