HAMBURG (dpa-AFX) - The takeover of the Hamburg-based solar and wind farm operator Encavis by the US financial investor KKR is entering the home straight. The minimum acceptance threshold set as part of the voluntary public takeover offer by the end of the acceptance period on May 29 has been exceeded, Encavis announced in Hamburg on Tuesday. It was set at 54.285 percent, and the acceptance rate of the offer was reportedly 68.55 percent. The management bodies of the Hamburg-based MDax group had supported the takeover and recommended that Encavis shareholders accept the offered price of EUR 17.50 per share. A further acceptance period is expected to run from June 5 to 18.

A consortium led by KKR submitted a voluntary public takeover bid in mid-March. The family-owned company Viessmann is also involved as a co-investor, holding 25.1 percent of Encavis. The offer values the Hamburg-based company at a good 2.8 billion euros in total. Regulatory approval for the takeover is still pending./lew/men