KKR ready to squeeze out Albioma, holds over 92%

KKR & Co Inc (NYSE:KKR) has secured 92.19% of the capital and voting rights in Albioma SA (EPA:ABIO) through its friendly takeover offer for the French independent renewable energy producer and is now able to proceed with filing a squeeze-out application.

Albioma announced today that almost 2.54 million shares and 223 warrants (BSAAR) were tendered during the second offer period initiated by KKR. Settlement-delivery of the reopened offer will take place on September 26, at which point the investor will hold a total of 29.89 million Albioma shares and 551,428 warrants.

KKR had secured 83.44% of Albioma’s share capital during the first offer period.

Now, the buyout firm will apply to the AMF for the implementation of the mandatory squeeze-out procedure at EUR 50 (USD 49.95) per share and EUR 29.10 per BSAAR, which are the same prices as those in the tender offer.

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 0.999)

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