US fund KKR in takeover bid for Portugal’s Greenvolt, secures control
2023.12.21 05:49
© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
LISBON (Reuters) – A unit of U.S. private equity fund KKR announced on Thursday a full takeover bid for Portuguese renewable energy company Greenvolt, which values the firm at 1.16 billion euros, and said it had already secured a controlling stake via agreements.
Gamma Lux said in a statement it was offering 8.3 euros per Greenvolt share, which is 11.5% above Wednesday’s closing price of 7,45 euros and represents a premium of 32.1% compared to the weighted average price over the last six months.
It said that the offer became mandatory after the fund signed contracts to buy a total stake of 60.86% in Greenvolt from seven shareholders.
Greenvolt’s equity is represented by more than 139 million shares.
This morning the shares were suspended from trading on Euronext Lisbon.
