KKR Signs Deal For 6.3-GW Power Business In UK

KKR has now reached an agreement for acquiring the power generation business of the United Kingdom known as ContourGlobal, which is including its minority renewables arm, subject to a vote of shareholder. This acquisition has been intended for being recommended unanimously by the board of ContourGlobal.

ContourGlobal has been an international operator and owner of contracted wholesale power generation businesses along with approximately 6.3 watts in the operation in 20 countries. The company has been operating a portfolio of 138 renewable and thermal power plants across the continent of Europe, Latin America, Africa and North America, which is utilising a wide range of the fuel types along with the equipment and technologies.

The all-cash deal values the ordinary share capital of the ContourGlobal at around 2.14 billion dollars on a completely diluted basis and it has been an enterprise value of around 6.14 billion dollars.

Under the agreement, the shareholders of ContourGlobal is going to be entitled for receiving and retaining the Q1 2022 Dividend of 4.01 pence per share of ContourGlobal as it has been announced by ContourGlobal on 13^th May 2022.

This has been because of being paid on 10^th June 2022 for those shareholders of ContourGlobal, who is appearing on the registration of the members of the company on 27^th May 2022 and the price of the acquisition is thereafter going to be decreased by 4 pence per share of ContourGlobal.