KKR Offers to Buy German Energy Firm Encavis in $3 Billion Deal

KKR & Co. has agreed to acquire renewable-energy producer Encavis AG in a deal that values the German company at about €2.8 billion ($3 billion).

The private equity firm offers to buy all Encavis shares at €17.50 each in cash, representing a 54% premium to the closing price on March 5, before Bloomberg News reported that KKR was in advanced talks on a potential acquisition. Viessmann will be a co-investor in the deal, according to a statement on Thursday.

Shares of Encavis have plunged by almost half since reaching a record in January 2021. The slump is part of a ...