The European Commission has authorized the tender offer initiated on behalf of KKR for the shares and warrants (BSAAR) of Albioma, an independent renewable-energy producer committed to the energy transition.
Albioma operates in France, Mauritius and Brazil. For 30 years, it has developed a unique partnership with the sugar industry to produce renewable energy from bagasse, the fibrous residue of sugarcane. Albioma is also a major producer of photovoltaic energy in overseas France, where the company builds and operates innovative projects with storage. In 2021, the group acquired its first geothermal energy power plant in Turkey.
The tender offer was cleared to move forward on the condition that KKR obtains at least 50 percent of Albioma's share capital. The offer will close on July 27.