DCC Energy said it has agreed to sell itself to US private equity groups Energy Capital Partners and KKR in a deal worth as much as £5.73 billion (€6.71 billion), saying it represents a “compelling and certain opportunity” for shareholders. The offer is in line with the proposal outlined last week by DCC as the US groups sought additional time from DCC and the Irish Takeover Panel to make an official offer. It includes a £65.25-a-share upfront payment with an add-on of as much as £1.25 extra per share if the group achieves at least $800 million (€697.6 million) from a sale of the tech division, known as Nexora, DCC said in a statement on Monday. While all pitches from KKR and Energy Capital since they made an initial indicative bid in late April have also included the payment of DCC’s final planned dividend on 2025 earnings, including the offer published on Monday, this payment was actually made last week. Its inclusion in the offer statement was intended to give a like-for-like comparison between the various pitches.. “Following a robust and lengthy negotiation with the consortium, the DCC Energy board considers that the acquisition provides shareholders with an attractive premium, cash certainty and value at a level above that which DCC Energy has been able to achieve consistently in the public markets,” DCC, which is led by chief executive Donal Murphy, said in the statement. DCC is now one of three Irish public companies subject to takeover proposals. PTSB shareholders are due to vote on Thursday on a €1.62 billion bid from Austria’s Bawag.Irish Continental Group (ICG) said late on Friday that its chief executive, Eamonn Rothwell, is leading a €1.2 billion management buyout bid for the ferries group almost 20 years after making a failed attempt to buy the business. The bid is being backed by a unit of US investment giant BlackRock, Global Infrastructure Partners.
DCC board backs ‘compelling’ takeover bid of up to £5.73 billion
Group is one of three Irish public companies currently subject to takeover bids










