Private equity finds soft takeover targets in London - yet again
DCC Energy has agreed to a £5.75bn takeover by private equity firms KKR and Energy Capital Partners. Some shareholders opposed the deal, arguing the company's long-term growth strategy for its energy transition assets is undervalued.
Why it matters
The deal highlights a trend of private equity firms targeting undervalued London-listed companies, raising concerns about the loss of domestic firms from the FTSE 100.
DCC Energy acquired the Irish petroleum wholesale and unmanned forecourt business GreatGas in 2009. DCC Energy acquired the Irish petroleum wholesale and unmanned forecourt business GreatGas in 2009. Nils Pratley on finance FTSE Private equity finds soft takeover targets in London – yet again Nils Pratley Offer for DCC Energy leaves total of completed or agreed deals within FTSE 100 this year at five, but has Westminster noticed?
DCC, one of FTSE 100’s biggest energy firms, agrees £5.75bn takeover
A nd another one goes. Dublin-based DCC Energy is a lower-profile member of the FTSE 100, but they all count. We’re now at five completed or agreed takeovers within London’s leading index this year – and it’s still only July.
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