Freshfields Advised Encavis Through Investment Deal and Takeover Offer from KKR

Freshfields Advised Encavis Through Investment Deal and Takeover Offer from KKR

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Global law firm Freshfields Bruckhaus Deringer advises Encavis AG, a leading German wind and solar park operator listed on the MDAX, on a deal involving an investment agreement and a voluntary public takeover offer by Kohlberg Kravis Roberts & Co. L.P. (KKR), an international investment firm. Family-owned company Viessmann GmbH & Co. KG will also join the consortium led by KKR as a shareholder.

Encavis AG, a leading renewable energy producer listed on the MDAX, acquires and operates onshore wind and solar parks in 12 European countries.

The agreement sets the terms for KKR's €17.50 per share cash offer to acquire all outstanding Encavis shares. This values the company at over €2.81 billion.

Freshfields provided comprehensive advice to Encavis's management and supervisory boards. This included the investment agreement with KKR, legal aspects of the process (corporate and capital markets law), and related corporate governance and communication matters. The firm is also advising on the German Banking Act owner control proceedings linked to the takeover.

Freshfields is also assisting Encavis's supervisory board regarding the takeover offer. Their advice will focus on the official statement required by the German Securities Acquisition and Takeover Act.

The takeover offer is subject to several approvals, including those related to mergers, foreign trade, and shareholder control. The deal is expected to close in the last quarter of 2024.

The Corporate/M&A division of Freshfields in Hamburg, headed by Partner Christoph H. Seibt, received support from Associate Jean Mohamed and Principal Associate Carsten Bork in leading the Freshfields team in the takeover offer.

Additionally, the Freshfields team comprised Partners Gunnar Schuster (specialising in Banking Regulation/Financing, based in Frankfurt) and Katrin Gaßner (with expertise in Antitrust, located in Düsseldorf), alongside Associate Maximilian Sander (in Corporate/M&A, based in Hamburg).

Natalie Grüber, serving as Head of Legal and Director, offered in-house legal counsel for the transaction.