TPG Rise Climate To Buy Majority Stake In UK Gases Firm A-Gas From Its Owners, Including Majority Owner KKR; Terms Not Disclosed
Portfolio Pulse from Charles Gross
TPG Rise Climate is set to acquire a majority stake in UK-based A-Gas from its current owners, including majority owner KKR. KKR will retain a significant minority stake in the business and continue to collaborate with TPG Rise Climate and the A-Gas Leadership Team. The deal is expected to close by the end of 2023, pending regulatory approvals.
August 17, 2023 | 8:48 am
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KKR is selling a majority stake in A-Gas to TPG Rise Climate but will retain a significant minority stake in the company.
The sale of a majority stake in A-Gas to TPG Rise Climate could potentially free up capital for KKR, but as they are retaining a significant minority stake, they still have exposure to the company's performance. The impact on KKR's stock price in the short term is uncertain.
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