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KKR mulls €1bn take-private of space tech firm OHB

KKR & Co is planning a take-private deal for German space and technology company OHB SE alongside the firm’s founding family, which values the business at around €1bn including debt, according to a report by Bloomberg.

The reports cites a statement from the company as revealing that under the terms of KKR’s proposed deal, investors will receive €44 ($48.33) for every OHB share. KKR has also agreed to participate in a plan to raise the company’s capital by 10%.

OHB, whose customers include the German government, as well as other European governments, has built satellites and products for Europe’s Galileo navigation system, weather forecasting and the International Space Station. According to its website, it has also developed technology to help search for life on Mars, track comets and support rocket launches.

The company’s shares, which have been flat so far this year, gained to slightly more than €42.85 euros on Tradegate on Monday morning.

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