EQS-News

ENCAVIS AG Management Board and Supervisory Board recommend the acceptance of the voluntary public takeover offer by KKR

EQS-News: ENCAVIS AG / Key word(s): Statement/Takeover ENCAVIS AG Management Board and Supervisory Board recommend the acceptance of the voluntary public takeover offer by KKR 02.05.2024 / 09:29 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News ENCAVIS Management Board and Supervisory Board recommend the acceptance of the voluntary public takeover offer by KKR

• Joint reasoned statement of Management Board and Supervisory Board published
• Offer price of EUR 17.50 per share considered to be fair, adequate and attractive
• Management Board and Supervisory Board support the strategic partnership and recommend shareholders to accept the offer

Hamburg, 2 May 2024 – The Management Board and the Supervisory Board of Encavis AG (“Encavis” or “the Company”) today published their joint reasoned statement pursuant to Section 27 of the German Securities Acquisition and Takeover Act (“WpÜG”) on the voluntary public takeover offer of Elbe BidCo AG (the “Bidder”) to all shareholders of Encavis AG. The Bidder is a holding company controlled by investment funds, vehicles and accounts advised and managed by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (“KKR”). The family company Viessmann GmbH & Co. KG (“Viessmann”) invests as co-investor in the KKR-led consortium.

After having independently and carefully reviewed and evaluated the offer document published by the Bidder, both the Management Board and the Supervisory Board reaffirm their support and recommend all Encavis shareholders to accept the public takeover offer.

Both welcome the economic and strategic intentions of the Bidder as laid out in the offer document in which the Bidder reiterated its intention to fully support Encavis' current growth strategy, including maintaining the existing management team, and safeguarding employee positions. The intended measures and objectives have already been largely agreed in the Investment Agreement which defines a common framework for the future cooperation in detail.