Irish energy giant DCC Energy has agreed to a €6.5 billion takeover by a consortium of US private equity firms after months of negotiations.
The company, which owns the Certa and Flogas brands in Ireland, confirmed it has accepted a takeover offer from KKR and Energy Capital Partners, with its board recommending shareholders back the deal.
The agreement follows the rejection of an initial bid worth just under £5 billion earlier this year, with DCC saying at the time that the proposal undervalued the business.
The consortium subsequently returned with an improved offer, culminating in Monday’s agreement.
Under the terms of the deal, shareholders will receive £65.25 in cash per share, a proposed final dividend of 147.22 pence and a potential additional payment of up to £1.25 per share if DCC completes the sale of its Nexora technology business for at least $800 million.
DCC Energy operates across 11 countries and employs around 9,500 people throughout Europe and North America.
Its business spans the sale and distribution of liquid gas, fuels, biofuels and renewable energy solutions, while its mobility division operates service stations and fleet services across eight European countries. In Ireland, its best-known consumer brands include Certa and Flogas.
For the year ending March 31, 2026, DCC Energy reported revenues of £15.42 billion and an operating profit of £634 million from its continuing operations.
The transaction remains subject to shareholder approval and regulatory clearances before it can be completed.
