🌱 KKR has launched a full takeover bid for European renewables powerhouse GreenVolt, valuing the company at €1.16bn.
💰 Valuation: KKR offers 8.3 euros per Greenvolt share, representing an 11.5% premium to the December 20th closing price and a 32.1% premium to the 6-month weighted average.
📈 Deal terms: KKR has secured agreements to acquire 61% of GreenVolt's share capital from seven shareholders.
📉 Privatization: KKR intends to delist GreenVolt if it consolidates 90% or more of the capital.
🤝 Strong relationship: KKR's partnership with GreenVolt was solidified in Jan '23 with a €200mn investment in convertible bonds, granting a 1.2% equity stake.
🌍 Growth Plans: This deal fuels GreenVolt's 7.7 GW pipeline of solar and wind projects across Europe, with 2.9 GW reaching the ready-to-build stage by end of 2023.
🚀 Business Acceleration: GreenVolt can now progress on its plan to sell more projects at commissioning, instead of RtB, and expand its distributed generation (DG) segment across Europe.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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