Key Takeaways
- • DCC Energy has agreed to sell its technology division, Nexora, to private equity firm One Equity Partners at an enterprise value of $725m, according to Reuters.
- • The divestment forms part of the arrangements surrounding DCC's proposed £5.75bn ($7.61bn) takeover by a consortium led by KKR and Energy Capital Partners, agreed in July.
- • DCC shareholders will receive an additional 42 pence per share linked to the Nexora disposal, payable only if regulatory conditions are satisfied by 31 July 2027.
- • The Nexora sale is structured on a cash-free, debt-free basis, with closing expected on or after 1 March 2027, subject to regulatory approval.
Summary
DCC Energy has agreed to sell its technology division, Nexora, to private equity firm One Equity Partners for an enterprise value of $725m, according to a Reuters report. The Irish energy group is making the divestment as it prepares for its planned takeover by KKR and Energy Capital Partners. DCC said the transaction will be completed on a cash-free and debt-free basis, with closing expected on or after 1 March 2027, subject to regulatory approval.
The sale is linked to a takeover agreed in July by a consortium led by US private equity firms KKR and Energy Capital Partners, valued at £5.75bn ($7.61bn). Under the terms of that agreement, DCC shareholders will receive an additional 42 pence per share on top of the existing offer, tied to the Nexora disposal. The additional payment will be cancelled if the regulatory conditions relating to the sale have not been satisfied by 31 July 2027.
The Nexora transaction remains subject to the necessary approvals, and its anticipated completion falls after the proposed KKR-led acquisition was announced. The source material does not provide further detail on the buyer's rationale or the financial performance of Nexora.
The sale is linked to a takeover agreed in July by a consortium led by US private equity firms KKR and Energy Capital Partners, valued at £5.75bn ($7.61bn). Under the terms of that agreement, DCC shareholders will receive an additional 42 pence per share on top of the existing offer, tied to the Nexora disposal. The additional payment will be cancelled if the regulatory conditions relating to the sale have not been satisfied by 31 July 2027.
The Nexora transaction remains subject to the necessary approvals, and its anticipated completion falls after the proposed KKR-led acquisition was announced. The source material does not provide further detail on the buyer's rationale or the financial performance of Nexora.
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