Kohlberg Kravis Roberts & Co. L.P. entered into a share purchase agreement to acquire an additional 10.55% stake in Greenvolt - Energias Renováveis, S.A. (ENXTLS:GVOLT) from Livrefluxo - SGPS, S.A. for approximately ?120 million on December 21, 2023. KKR will acquire Greenvolt - Energias at ?8.3 per share.

Pursuant to the transaction, Kohlberg Kravis Roberts & Co. L.P. entered into a seven-share purchase and sale agreements with each of the Selling Shareholders, pursuant to which each of the Selling Shareholders and the Offeror accepted to sell and purchase, respectively, the Shares held by each of the Selling Shareholders holds, in an aggregate amount of 84,699,101 Shares, corresponding to 60.86% of the voting rights in Greenvolt. KKR will launch a general and voluntary public offer for the acquisition of all shares representing Greenvolt?s share capital and voting rights that are not subject of the Share Purchase Agreements.

Upon the conclusion of the acquisition of Shares representing a percentage greater than 50% of the share capital and voting rights will the Tender Offer be converted from voluntary into mandatory. The transaction is subject to approval by Competition Authority in Portugal, Romania, Ireland, UK and Germany and regulatory approvals. The completion of the acquisitions each Share Purchase Agreement shall not occur before May 31, 2024, and will only take place after the condition's precedent in the Preliminary Announcement have been met.

These conditions "must be met or waived by September 30, 2024, with the possibility of extension for a period of 3 (three) months and cover several countries. As of April 10, 2024, some suspensive conditions have met including a minimum bid price fixated by an independent expert.