TPG The Rise Fund managed by TPG Growth, LLC entered into a definitive agreement to acquire unknown majority stake in A-Gas International Limited from KKR European Fund IV L.P. fund managed by KKR & Co. Inc. (NYSE:KKR), LDC (Managers) Limited and others on August 17, 2023. Post closing of the acquisition, KKR will remain a significant minority shareholder in the business, continuing to work in collaboration with TPG Rise Climate and the A-Gas Leadership Team. The transaction marks a full exit for minority investor, LDC, following a successful 12-year strategic partnership. The transaction is subject to customary closing conditions, including certain regulatory approvals and is expected to be completed by the end of 2023. As on November 14, 2023, The European Commission has approved the deal.

Alisdair Livingstone and James Taylor of Osborne Clarke has advised the management team of A-Gas.

Citi acted as financial advisor to TPG in relation to the transaction. Goldman Sachs International acted as financial advisor to A-Gas and KKR, while Mark D. Pflug, Clare Gaskell, Étienne Renaudeau, Shahpur K. Kabraji, Sarah Lindley, William J. Smolinski and Meredith B. Jones of Simpson Thacher & Bartlett and Stephen Levy and Helen Bowdren of Dentons acted as KKR?s legal advisor.

TPG The Rise Fund managed by TPG Growth, LLC completed the acquisition of unknown majority stake in A-Gas International Limited from KKR European Fund IV L.P. fund managed by KKR & Co. Inc. (NYSE:KKR), LDC (Managers) Limited and others on December 14, 2023.