KKR to Buy Power Producer ContourGlobal in All-Cash Deal (2)

KKR & Co. added to its recent energy acquisitions with a deal to buy UK-based power generation company ContourGlobal Plc.

Private equity firms are increasingly snapping up electricity assets such as renewables plants and power grids as the energy transition accelerates. New York-based KKR swooped on French solar company Albioma SA last month and Australia’s Spark Infrastructure Group late last year. In March, it was said to be in talks for Hong Kong tycoon Victor Li’s UK Power Networks Holdings Ltd.

In its latest deal, KKR will buy ContourGlobal for 263.6 pence a share in cash, valuing the company ...