DCC, one of FTSE 100’s biggest energy firms, agrees £5.75bn takeover

KKR and Energy Capital Partners poised to buy firm despite misgivings from founder and biggest shareholders Nils Pratley: Private equity finds soft takeover targets in London – yet again One of the biggest energy businesses listed on the London Stock Exchange has agreed a controversial £5.7bn takeover by private equity, adding to the growing exodus of companies from the UK market. The US private equity groups KKR and Energy Capital Partners are poised to buy DCC Energy after the company’s board recommended the offer despite misgivings from its founder and biggest shareholders. The proposed takeover of the Dublin-based company follows recent agreements to take a host of UK businesses private, including Mitie, Tate & Lyle and the William Hill owner, Evoke. The budget airline easyJet is subject to a possible £5.7bn offer. The potential blow to the LSE has already attracted criticism from DCC’s founder, Jim Flavin, who is one of the company’s biggest shareholders, and the pension companies Aviva and Fidelity, which also hold significant stakes in the company. Flavin said he was “astounded” by the board’s backing for the deal, which he believes undervalues the off-grid e