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Heurist Finance

KKR Expands Acquisition Activity with Sweetened Bid for DCC and New Consortium Role for Steadfast.

Bloomberg+1 ·
KKR
KKR Expands Acquisition Activity with Sweetened Bid for DCC and New Consortium Role for Steadfast.
  • KKR and Energy Capital Partners raised their bid for DCC Plc to more than £5.7 billion ($7.6 billion), maintaining the share offer at £66.72 but adding a potential £1.25 per share contingent on the sale of DCC's Nexora tech unit.
  • KKR joined Amwins Group and Dragoneer Investment Group in a non-binding proposal to acquire Steadfast Group for approximately A$7.7 billion (US$5.1 billion).
  • Under the Steadfast proposal, KKR will act as a co-lead investment partner alongside Dragoneer to manage the retail brokerage business, while Amwins handles the underwriting arm.

Quotes

“KKR, acting on behalf of funds, vehicles and entities it manages or advises, has joined the consortium as a co-lead investment partner alongside Dragoneer in Steadfast's retail brokerage business.”— Steadfast
“there is no guarantee that a binding agreement will be reached with the consortium and no certainty that the proposal will lead to a transaction.”— Steadfast Board

Sources