KKR & Co. Inc. (NYSE:KKR) and Viessmann Group Gmbh & Co. Kg entered into a investment agreement to acquire 69% stake in Encavis AG (XTRA:ECV) for ?1.9 billion on March 14, 2024. Encavis shareholders will be offered ?17.50 per share in cash. In a related transaction, Abacon capital and other shareholders have signed binding agreements to sell approximately 18% and roll-over approximately 13% of Encavis shares and are fully supportive of the takeover offer. The voluntary public takeover offer will be subject to a minimum acceptance threshold of 54.2852% of all outstanding Encavis shares. The voluntary public takeover offer will be subject to various customary offer conditions, including the receipt of regulatory, antitrust and FDI approvals, with closing expected in Q4 2024. The Management Board and the Supervisory Board of Encavis, who have approved the execution of the Investment Agreement today, expressly support the Offer. As of May 2, 2024, The Management Board and the Supervisory Board of Encavis AG recommend shareholders to accept the offer. The acceptance period for the offer during which the shareholders of Encavis can tender their shares has commenced with the publication of the offer document on April 24, 2024 and will end on May 29, 2024.

PJT Partners is acting as financial advisor and Latham & Watkins and Hengeler Mueller are acting as legal advisors on the takeover offer.