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Yet another company has been picked off London’s stock exchange this morning: DCC Energy has agreed to a £5.75bn takeover by private equity investors KKR and Energy Capital Partners.
Shareholders in the FTSE 100 energy distributor will receive £65.25 per share in cash, a proposed final dividend of 147.22p per share, and a potential payment of up to £1.25 per share if DCC can sell its technology unit for at least $800 million.
Whilst the DCC Energy Board remains confident in the energy strategy and associated 2030 Ambition announced in 2022, the Board believes the Consortium’s offer represents a compelling opportunity for shareholders to crystallise value in cash at an attractive premium to DCC Energy’s historical trading price.
We are confident that the Consortium will be strong stewards of DCC Energy’s 50-year heritage and support the business during its next phase of growth.”
Continue reading...This article was originally published by The Guardian and written by Lauren Almeida.
Read original article on The Guardian