FRANKFURT (dpa-AFX) - The offer by financial investor KKR for Encavis aroused covetousness throughout the energy sector on Thursday. The shares of the solar and wind power operator jumped 26 percent. They thus dominated the European sector index Stoxx Europe 600 Utilities, which rose by 1.3 percent.

A consortium led by KKR, in which the family-owned company Viessmann is also involved, is offering Encavis shareholders 17.50 euros per share. The share price approached this offer. Most recently, 16.95 euros were paid for the shares. Talks with the financial investor had already been confirmed by Encavis last week. Prior to the initial speculation, the share price of the solar and wind power operator was still around 11 euros at the beginning of March.

The price probably only came close to the offer as there is a certain residual uncertainty due to a minimum acceptance threshold of a good 54 percent. According to the press release, however, binding agreements have already been reached with Encavis' anchor shareholders, who hold almost a third of the company. The offer values Encavis at a good 2.8 billion euros in total. At the beginning of February, there was speculation of a value of "over 2 billion euros".

Shareholders in particular who bought into the company during the share price boom at the end of 2020/beginning of 2021 and in mid-2022 are likely to be skeptical about the takeover bid. At that time, the shares cost up to around 25 euros each.

The takeover fantasy also had a positive effect on other German sector stocks: First and foremost, shares in PNE rose by five percent at the top of the SDax, at times reaching their highest level since May 2023, while Energiekontor managed a gain of 1.7 percent. ABO Wind shares also rose by almost four percent. The company had reported another record result on Thursday.

The shares of the two energy companies RWE and Eon, which rose by up to 3.7 percent in the Dax, were also driven by the strength of the sector. While RWE continued its recovery from the low since October 2021 after the annual report, Eon's share price reached its highest level since 2015.

RWE had confirmed its forecast and the previously published key data in the morning. Investors reacted with relief, as according to traders, some investors had feared a reduction in targets due to lower electricity prices. According to analyst Martin Tessier of Stifel Research, there was "no additional negative news to this year's forecast". He also mentioned that RWE had delivered reassuring data regarding its dependence on electricity prices in the renewable energy sector./tih/lew/mis