KKR To Scoop This Power Company At 36% Premium

U.S. private-equity firm KKR & Co Inc KKR agreed to acquire power generation company ContourGlobal PLC GLOFF for £1.75 billion ($2.16 billion), Reuters reports.
KKR will pay £2.64 for each share of ContourGlobal, representing a 36% premium to its May 16 closing price.
ContourGlobal operates 138 thermal and renewable power plants across Europe, Latin America, North America, and Africa.
ContourGlobal will add to KKR's infrastructure investments that span industries like renewables, utilities, transportation, water, and communications.
KKR held $13.5 billion in cash and equivalents as of March 31.
Price Action: KKR shares closed lower by 1.17% at $50.97 on Monday.

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