EU Clears KKR’s Acquisition of Encavis AG, Citing Limited Market Impact

The European Commission (EC) has unconditionally approved US private equity company KKR & Co Inc's of sole control over AG, a German operator of wind and parks.

In a press statement, the regulator concluded that the proposed acquisition would not significantly impact competition due to the companies' limited combined market position resulting from the transaction.

KKR, together with co-investor Viessmann Group, initiated a offer in March offering EUR 17.50 per share in cash, valuing Encavis at approximately EUR 2.83 billion (USD 3.04 billion). By June, KKR had secured an 87.41% interest in Encavis through its public takeover offer.

Encavis manages a portfolio with a total generation capacity of about 3.5 gigawatts (GW), with an additional 1.2 GW under construction. The acquisition marks a strategic move for KKR into the European renewables market, leveraging Encavis's substantial assets.

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