DCC Energy agrees to sell Nexora for $725 million
DCC Energy agreed to sell its Nexora technology division to funds advised by One Equity Partners in a deal valuing the division at $725 million. DCC expects $701 million in proceeds and said the sale is expected to complete on or after March 1.
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By Adam Whittaker DCC Energy said it has agreed to sell Nexora to funds owned and advised by One Equity Partners in a deal that values the technology division at $725 million. DCC Energy itself agreed to be sold to Energy Capital Partners and KKR & Co. 61 billion). 22 pence a DCC share as previously announced.
They would also get up to 125 pence a share if the company sold Nexora. The amount they would receive was contingent on the sale price of the division. DCC Energy said Friday that it expects proceeds of $701 million from the sale of Nexora, which means DCC shareholders are expected to receive an extra 42 pence a share. It said it expects the sale to complete on or after March 1.
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