DCC Energy Sells Nexora for $725M, Adds 42p/Share Sweetener to KKR Buyout
KKR is trading near its 52-week low of $82.67 (8.6% above the low).
Summary
DCC Energy is selling its technology unit Nexora to One Equity Partners for $725 million, a divestiture that comes ahead of the £5.75 billion KKR-led buyout agreed in July. The sale adds 42 pence per share to the existing offer for DCC shareholders, contingent on regulatory approval by July 31, 2027. This is a new development in the KKR-ECP consortium's acquisition of DCC Energy, providing additional value to the target's shareholders and potentially smoothing the path to closing. The transaction is expected to complete on or after March 1, 2027.
At the time of this announcement, KKR was trading at $89.75 on NYSE in the Finance sector, with a market capitalization of approximately $80.4B. The 52-week trading range was $82.67 to $144.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.