BNP Paribas SA, acting through its London operations as a connected exempt principal trader, has filed a formal dealing disclosure under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, in relation to DCC Energy Plc (DCC). The disclosure covers contracts for difference transactions in DCC Energy securities executed on 6 November 2026, with the filing published on 9 November 2026. BNP Paribas SA is connected to the offer parties Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P., making these dealings subject to mandatory transparency requirements under Irish takeover regulation.

Key Points

  • DCC Energy Plc (DCC) is the subject of the takeover offer to which this disclosure relates
  • BNP Paribas SA disclosed multiple CFD transactions in DCC Energy securities on 6 November 2026, primarily involving short position activity
  • All CFD transactions were executed at a price of 64.4 per unit, referencing ISIN IE0002424939
  • Investors may watch for further Rule 38 disclosures as the offer process involving Energy Capital Partners and KKR continues

BNP Paribas SA's CFD Activity in DCC Energy at 64.4 per Unit on 6 November 2026

The disclosure details multiple cash-settled contract for difference transactions referencing DCC Energy Plc shares under ISIN IE0002424939, all executed at a uniform price of 64.4 per unit. The transactions included both reducing and increasing short positions across several individual lines, alongside one instance of an increasing long position involving 126 reference securities. The largest single transaction recorded was an increasing short position of 52,921 reference securities. BNP Paribas SA states it was acting in a client-serving capacity as a recognised intermediary, meaning these dealings were conducted on behalf of clients rather than reflecting the firm's own proprietary directional view.

BNP Paribas SA's Connection to Energy Capital Partners and KKR Under Irish Takeover Rules

Under the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, any exempt principal trader connected to an offer party must disclose dealings in the offeree's relevant securities. BNP Paribas SA is identified in the filing as connected to both Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P., the named parties to the offer for DCC Energy Plc. DCC Energy is an energy distribution business operating across multiple markets. The disclosure confirms no indemnity arrangements, options, or agreements relating to voting rights or future acquisition of DCC Energy securities exist between BNP Paribas SA and any party to the offer.

Regulatory Transparency Obligations Driving the Rule 38.5(a) Filing for DCC Energy

Rule 38.5(a) of the Irish Takeover Rules requires connected exempt principal traders with recognised intermediary status to publicly disclose dealings during an offer period, ensuring market participants have visibility of activity by parties with potential access to offer-sensitive information. The filing was submitted by BNP Paribas SA's Compliance Control Room and published via a Regulatory Information Service on 9 November 2026. DCC Energy Plc, as an Irish-incorporated energy distribution group, falls under the jurisdiction of the Irish Takeover Panel, which oversees compliance with these transparency obligations throughout the offer timetable. Investors monitoring the DCC Energy offer may note further such disclosures as the process advances.