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KKR acquires a 31% stake in Encavis, a German company

US private equity company KKR & Co Inc is holding 31% of the shares in Encavis AG (a week after a consortium led by the investment firm offered EUR 2.8 billion (USD 3.05bn) to acquire the German wind and solar parks operator.

According to a regulatory filing published on Wednesday, funds managed by KKR secured 49.9 million voting rights in Encavis, corresponding to 31%.

The German renewable energy company disclosed earlier in March that a consortium led by KKR intends to propose EUR 17.50 per share to buy Encavis. Viessmann GmbH, a German manufacturer of heating and refrigeration systems, will participate as a co-investor in the group.

According to the statement made at the time, several Encavis shareholders led by Abacon Capital have agreed to sell a combined stake of 31%, while partly reinvesting in KKR’s bidding entity, Elbe BidCo.

Eventually, KKR plans to delist Encavis.


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