KKR secures EC clearance for tender offer targeting Albioma

US buyout firm KKR & Co Inc (NYSE:KKR) has recently obtained the needed authorisation from the European Commission for its tender offer targeting all shares and warrants of French independent renewable energy producer Albioma SA (EPA:ABIO).

The French company announced this milestone on Tuesday, saying that KKR’s offer is no longer subject to any conditions precedent other than being successful in securing a stake of at least 50.01%. If the minimum acceptance condition is met, the investor intends to delist Albioma.

KKR’s affiliate Kyoto BidCo launched the tender offer of EUR 50.00 (USD 51.45) per Albioma share late last month. The offer is scheduled to close on July 27, 2022.

Albioma owns and operates biomass and solar power plants in both metropolitan and overseas France, Mauritius and Brazil, as well as geothermal energy production facilities in Turkey. Its total installed capacity exceeds 1 GW.

(EUR 1 = USD 1.029)

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