KKR & Co. Inc. (NYSE:KKR) made an offer to acquire Albioma (ENXTPA:ABIO) from Bpifrance Investissement SAS and others for €1.6 billion on April 27, 2022. KKR intends to request a squeeze out and delisting of Albioma's shares, subject to reaching 90% of the share capital and voting rights of Albioma as a result of the Offer. KKR will fund the transaction through its affiliated infrastructure funds. In case of termination under certain circumstances, a fee of €10 million is payable by KKR and Albioma. At a meeting on April 27, 2022, Albioma's Board of Directors unanimously welcomes the proposed transaction. Completion of the transaction also remains subject to EU Commission merger control approval, as well as obtaining foreign investment control clearances in France and in Spain. The transaction is filed for approval by the European Commission (EC) on June 7, 2022, who set July 12, 2022, as a provisional deadline for a ruling. As of June 30, 2022, European Commission have approved the transaction. As of August 1, 2022, Albioma and KKR announce the results of the friendly Tender Offer states that 27,049,985 shares representing 83.44% of Albioma's capital were successfully tender. In compliance with the articles 232-4 of the AMF's general regulations, the Offer will shortly be reopened at the same price. The settlement-delivery of the Offer will take place on August 11, 2022. As of August 4, 2022, The Offer will be reopened from August 8, 2022 to September 9, 2022 on the same terms.

Upon the recommendation of the ad hoc committee, Ledouble has been appointed as an independent expert to issue a fairness opinion on the financial terms of the tender offer. J.P. Morgan Securities plc and Bertrand Cardi, Olivier Huyghues Despointes, Dafna Davidova, Didier Théophile, Solène Eder, Henri Savoie and Guillaume Griffart Vincent Agulhon of Darrois Villey Maillot Brochier AARPI act respectively as exclusive financial advisor and legal advisor to Albioma. Société Générale and Florence Haas, Barthélémy Courteault, Jean-Florent Mandelbaum, Karine Sultan, Marine Blottiaux, Guillaume Froger and Laetitia Tombarello of Bredin Prat acted respectively as exclusive financial advisor presenting bank of the tender offer and legal advisor to KKR. D.F. King Ltd acted as information agent to individual Albioma shareholders.

KKR & Co. Inc. (NYSE:KKR) completed the acquisition of Albioma (ENXTPA:ABIO) from Bpifrance Investissement SAS and others on September 9, 2022. As of November 4, 2022, CDPQ has provided part of the €485 million acquisition financing to support the friendly tender offer.