(Finance) – The board of Encavisa German wind and solar park operator listed on the Frankfurt Stock Exchange, has confirmed that he had been in contact with the US private equity giant KKR regarding interest in one potential transaction with the company.
Since i talks are at an early stage, there is no guarantee that a potential transaction will be proposed or consummated, it said in a statement. Encavis does not intend to make further comments or answer any questions until a decision has been made.
Bloomberg wrote this afternoon that KKR is in talks to acquire Encavis in a deal that, according to people familiar with the matter, could value the German company more than 2 billion euros.
Encavis shares have fallen by more than half since hitting a record high in January 2021, giving the company a value of about 1.9 billion euros as of midday on Wednesday. Encavis shares have closed up 18% to 13.40 euros after the rumors published by Bloomberg News, bringing the capitalization to 2.2 billion euros.
Encavis acquires and manages (onshore) wind and solar parks in twelve European countries. Within the Encavis group, Encavis Asset Management offers services to institutional investors. Another group company is Stern Energy SpA, based in Parma, which is a specialized provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.