A unit of U.S. private equity fund KKR announced on Thursday a full takeover bid for Portuguese renewable energy company Greenvolt, which values the firm at 1.16 billion euros, and said it had already secured a controlling stake via agreements. Gamma Lux said in a statement it was offering 8.3 euros per Greenvolt share, which is 11.5% above Wednesday's closing price of 7.45 euros and represents a premium of 32.1% compared to the weighted average price over the last six months. After a brief suspension from trading, Greenvolt shares jumped 11% to 8.28 euros on Euronext Lisbon.
LISBON (Reuters) -A unit of U.S. private equity fund KKR announced on Thursday a full takeover bid for Portuguese renewable energy company Greenvolt that values the firm at 1.16 billion euros, after signing agreements to secure a controlling stake. Gamma Lux said in a statement it was offering 8.3 euros per Greenvolt share, 11.5% above Wednesday's closing price of 7.45 euros and a premium of 32.1% to the weighted average price over the last six months. After a brief suspension from trading, Greenvolt shares jumped as much as 11% to 8.28 euros on Euronext Lisbon before paring gains to stand 9.3% higher at 8.15 euros by 1215 GMT.
A unit of U.S. private equity fund KKR announced on Thursday a full takeover bid for Portuguese renewable energy company Greenvolt, which values the firm at 1.16 billion euros, and said it had already secured a controlling stake via agreements. Gamma Lux said in a statement it was offering 8.3 euros per Greenvolt share, which is 11.5% above Wednesday's closing price of 7,45 euros and represents a premium of 32.1% compared to the weighted average price over the last six months. Greenvolt's equity is represented by more than 139 million shares.