LONDON (dpa-AFX) - DCC Energy plc (DCC.L), a provider of carbon energy solutions, Friday announced that it has agreed to sell its Energy's technology division, Nexora, to independently managed investment subsidiaries of funds managed and/or advised by One Equity Partners or Technology Disposal for a total of $725 million.
As part of the acquisition, DCC Energy shareholders will receive 6,525 pence in cash per Nexora share, along with an additional consideration of up to 125 pence in cash per Nexora share if the conditions of the Technology Disposal are satisfied before July 31, 2027.
Under the terms of the Transaction Agreement, if the Technology Disposal Net Proceeds are between $650 million and $800 million, the Technology Disposal Additional Consideration will be between zero and 125 pence per Nexora share and if the Technology Disposal Net Proceeds are greater than $800 million, the maximum amount payable as Technology Disposal Additional Consideration will be 125 pence per Nexora share.
According to the purchase agreement, assuming a completion date of March 1, 2027, between this announcement date and completion of the Technology Disposal, the Technology Disposal Net Proceeds are expected to be $701 million and the Technology Disposal Additional Consideration is expected to be 42 pence per Nexora share.
On Thursday, DCC shares closed at 6445 pence, up 0.08% on the London Stock Exchange.
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