Private Equity Targets London as DCC Agrees £5.75bn Buyout

Dublin-based DCC Energy has agreed to a £5.75bn takeover by private equity groups KKR and Energy Capital Partners, a unit of Bridgepoint. The agreement pushes the total number of completed or agreed takeovers within the FTSE 100 index to five for the year.

The transaction values DCC at £65.25 per share. While the company's board accepted the offer, the deal faced vocal opposition from a minority of shareholders, including Fidelity International, Aviva Investors, and DCC's founder, who argued that the private equity consortium should have paid a higher price.

The acquisition highlights an ongoing trend of private equity firms targeting undervalued London-listed companies amid persistent weakness in UK market valuations. Despite the steady erosion of the FTSE 100's roster through corporate takeovers and foreign acquisitions, the steady departure of prominent firms continues to draw scrutiny regarding the long-term depth and appeal of the London exchange.