DCC, one of the largest energy businesses listed on the London Stock Exchange, has agreed a controversial £5.7bn takeover by US private equity firms KKR and Energy Capital Partners.
Key facts
- DCC has agreed a takeover valued at £5.7bn.
- The buyers are US private equity groups KKR and Energy Capital Partners.
- DCC's board recommended the offer despite misgivings from its founder and biggest shareholders.
- The deal adds to a growing exodus of companies from the UK market, according to the Guardian.
One of the biggest energy businesses listed on the London Stock Exchange has agreed a takeover by private equity, according to the Guardian. DCC Energy has accepted an offer valued at £5.7bn from the US private equity groups KKR and Energy Capital Partners.
The company’s board recommended the offer, the Guardian reported, moving the deal forward despite reservations expressed by some of the firm’s most influential figures.
According to the Guardian, the takeover has proven controversial. The company’s founder and its biggest shareholders held misgivings about the deal, even as the board endorsed it.
KKR and Energy Capital Partners are described by the Guardian as being poised to complete the purchase of DCC Energy, one of the FTSE 100’s most prominent energy names.
The Guardian reported that the transaction adds to a growing exodus of companies from the UK market, reflecting broader concerns about London’s standing as a listing venue for major businesses.
The report did not detail further terms of the agreement or the timeline for completion.
Why it matters
DCC is one of the largest energy firms on the London Stock Exchange, and its planned exit adds to a wider trend of companies leaving the UK market. The deal highlights ongoing questions about the attractiveness of the London market for major listed businesses.
Frequently asked questions
Who is buying DCC Energy?
According to the Guardian, the US private equity groups KKR and Energy Capital Partners are poised to buy DCC Energy.
How much is the DCC takeover worth?
The takeover has been agreed at a value of £5.75bn, according to the Guardian.
Why is the deal considered controversial?
The Guardian reported that DCC's board recommended the offer despite misgivings from the company's founder and its biggest shareholders.