KKR European Fund VI managed by KKR & Co. Inc. (NYSE:KKR) made a bid to acquire unknown minority stake in OHB SE (XTRA:OHB) on August 7, 2023. The offer per share is ?44 per OHB share. The agreements include a voluntary public takeover offer for all outstanding shares of OHB at a price of ?44 per per share and a separate agreement on a capital increase of 10%. OHB will continue to be led by Marco Fuchs as Cheif Executive Officer and the existing management team. The transaction has been initiated by the Fuchs family which will remain the majority shareholder of OHB at 70%. The voluntary public takeover offer by KKR is expressly welcomed by the Management Board and Supervisory Board of OHB, subject to the customary review. OHB will subsequently seek delisting from the stock exchange. The Offer will be subject to various customary conditions such as merger control and other regulatory clearances and will not be subject to a minimum acceptance level. As of September 21, 2023, the transaction has been approved by the management board and the supervisory board of OHB. As of September 15, 2023. KKR & Co has launched a tender offer and it will end on October 17, 2023. As on October 5, 2023, The European Commission approved the deal that KKR & Co to acquire a minority stake in OHB. As of October 17, 2023, the takeover offer had been accepted by shareholders representing 2,531,393 OHB shares. Including the shares purchased by KKR on market, corresponds to approximately 15.4% of all OHB shares and approximately 55.6% of all OHB shares not held by the Fuchs family or OHB as treasury shares. OHB shareholders continue to have the opportunity to accept the offer within the additional acceptance period, which will start on 21 October and expire on November 3, 2023.

Morgan Stanley Europe SE acted as financial advisor to KKR & Co. Inc. Étienne Renaudeau of Simpson Thacher & Bartlett LLP acted as legal advisor to KKR. Thomas Krecek, Markus Stephanblome and Christian Vogel of Clifford Chance acted as Financial Advisor for Morgan Stanley and Carlyle Asia Investment Advisors Limited. Carsten Berrar, Konstantin Technau, Frederic Wünsche, Ben Fuhrmann and Michael Rosenthal of Sullivan & Cromwell (Germany) LLP acted as legal advisor to OHB SE and majority shareholders. Christian Schwandtner, Oda Christiane Goetzke, Elisabeth Kreuzer, Martin Ulbrich, Jan Bonhage, Markus Röhrig, Matthias Cloppenburg, Caspar Haarmann, Hendrik Bockenheimer, Matthias Rothkopf and Daniela Böning.

KKR European Fund VI managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of 21% stake in OHB SE (XTRA:OHB) on November 3, 2023. As part of tender offer 3,592,391 shares were tendered. After completion of transaction, KKR now holds 21.5% in OHB SE including 0.5% stake acquired in market.