EC Clears KKR's Acquisition of Encavis

• European Commission greenlights KKR's acquisition of Encavis AG, paving the way for a major move in the renewable energy sector.

The European Commission has approved US private equity company KKR & Co Inc's takeover of German renewables firm Encavis AG. The acquisition, which includes a co-investor Viessmann Group, was cleared without any competition concerns due to the companies' limited market position post-transaction. KKR had launched a tender offer in March, offering EUR 17.50 per share in cash, valuing Encavis at around EUR 2.83 billion.

As of June, KKR had secured an 87.41% interest in Encavis through its public takeover offer. Encavis currently has a portfolio with a total generation capacity of about 3.5 GW, with an additional 1.2 GW under construction. The approval by the EC allows KKR to move forward with its plans to acquire the German renewables firm.

What are the details of KKR & Co Inc's takeover of Encavis AG?

• KKR & Co Inc's takeover of Encavis AG was approved by the European Commission
  
• The acquisition includes a co-investor Viessmann Group
  
• The takeover was cleared without any competition concerns due to the companies' limited market position post-transaction
  
• KKR launched a tender offer in March, offering EUR 17.50 per share in cash, valuing Encavis at around EUR 2.83 billion
  
• As of June, KKR had secured an 87.41% interest in Encavis through its public takeover offer
  
• Encavis currently has a portfolio with a total generation capacity of about 3.5 GW, with an additional 1.2 GW under construction
• The approval by the EC allows KKR to move forward with its plans to acquire the German renewables firm.