ContourGlobal takeover by KKR to have court hearing in December

(Alliance News) - ContourGlobal PLC on Friday said the court hearing to sanction its takeover by US private equity firm Kohlberg Kravis Roberts & Co LP is set for December 16.

The last dealings are set to take place on December 19. The London-based power generation firm said all conditions regarding anti-trust and regulatory approvals have been satisfied.

In May, ContourGlobal agreed to a GBP1.75 billion takeover offer from New York-based KKR.

Cretaceous Bidco, a newly formed company wholly-owned by KKR, offered 263.6 pence in cash per ContourGlobal share. On Friday, ContourGlobal said the consideration payable to its shareholders was 4.5% lower, at 251.4p each, reflecting adjustments made for payments by Contour in relation to first, second and third quarter dividends.

ContourGlobal shares were flat at 250.50 pence each in London on Friday morning.

By Tom Budszus; tombudszus@alliancenews.com

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