DCC Energy accepts improved £5.8bn offer from KKR and ECP

DCC Energy PLC (LSE:DCC) has agreed to a takeover by private equity groups KKR and Energy Capital Partners that values it at about £5.8 billion. The FTSE 100 petrol station owner and energy support services group’s board unanimously recommended the improved proposal, which was first submitted earlier this month. The offer is made up of 6,525p per share in cash. A 147.2p final dividend was paid last week. Investors could receive a further 125p depending on the outcome of DCC Energy’s proposed sale of its Nexora technology business.

DCC rejected an original takeover approach at 5,800p per share from the consortium in April, arguing that the proposal failed to reflect the value of the business, compared to an undisturbed closing price of 5,380p. Today, DCC said the agreed deal offered shareholders certainty after the company failed to secure a sustained re-rating on public markets. Chair Mark Breuer called it “a compelling opportunity for shareholders to crystallise value in cash at an attractive premium”.

Shareholder meetings are expected in September, with completion targeted for the first quarter of 2027.