KKR reopens offer to buy rest of Albioma shares

Albioma - thermal power generation from biomass

August 5 (Renewables Now) - US buyout firm KKR & Co Inc (NYSE:KKR) is reopening its friendly tender offer for French independent renewable energy producer Albioma SA (EPA:ABIO), the companies said on Thursday, after KKR secured 83.44% of Albioma’s share capital following the first offer period.

KKR launched its tender offer for all shares and warrants of Albioma in June after the French company agreed to the acquisition in April.

The first offer period was completed on July 27, with the outcome unveiled on August 1. The tender offer will now be reopened from August 8 to September 9 on the same terms, so that shareholders who have not yet tendered are able to do so. If KKR obtains at least 90% of Albioma’s share capital and voting rights, it will ask for a mandatory squeeze-out procedure.

Albioma operates biomass and solar power plants in metropolitan and overseas France, Mauritius and Brazil, and also has geothermal facilities in Turkey. Its portfolio exceeds 1 GW.

(EUR 1 = USD 1.023)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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