ContourGlobal shares jump 33% after KKR's $2.2 billion offer

Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York
Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo

LONDON, May 17 (Reuters) - Shares in London-listed ContourGlobal (GLO.L) leapt by a third on Tuesday after U.S. private company KKR (KKR.N) agreed to buy the power generation company for 1.75 billion pounds ($2.16 billion) in a bid to expand its renewable energy portfolio.

KKR will pay 263.6 pence for each share of ContourGlobal, according to the deal announced on Tuesday. That represents a 36% premium to the company's closing price on Monday.

Tuesday's 33% jump in early European trading took the shares to their highest level since August 2018.

Reporting by Joice Alves; editing by Marc Jones

Our Standards: The Thomson Reuters Trust Principles.

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