ENCAVIS AG Boards Endorse KKR's Takeover Offer

The Management Board and Supervisory Board of Encavis AG, a prominent renewable energy firm, have recommended shareholders to accept a voluntary public takeover offer from KKR. The offer, involving a strategic partnership, promises comprehensive support for Encavis' growth strategies and the safeguarding of its management and employee positions.

With an offer price set at EUR 17.50 per share, the proposal represents a 54% premium over the market price from early March 2024, reflecting strong confidence in Encavis's future prospects. This valuation received backing from financial advisory giants Goldman Sachs and Lazard, both affirming the offer's fairness.

Support for the takeover stems from its alignment with Encavis's longer-term objectives, not only sustaining its current management ethos but also maintaining and potentially accelerating its growth trajectory. The acceptance period for this offer commenced on April 24, 2024, and will run until May 29, 2024.