BNP Paribas SA, acting through its London operations as a connected exempt principal trader, submitted a Form 38.5(a) dealing disclosure to the Irish Takeover Panel on 10 November 2026 in relation to DCC Energy Plc (DCC). The disclosure covers cash-settled contract for difference transactions executed on 9 November 2026 across multiple positions in DCC Energy securities. BNP Paribas SA is disclosed as connected to offer parties Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P., making the filing a mandatory regulatory obligation during an active Irish takeover process.

Key Points

  • DCC Energy Plc (DCC) is the subject company; BNP Paribas SA is the disclosing exempt principal trader
  • BNP Paribas SA executed multiple CFD transactions in DCC Energy securities on 9 November 2026
  • All CFD dealings were priced at 64.4 per unit; activities included reducing a long position and increasing multiple short positions
  • Investors should watch for further Rule 38 disclosures as the offer from KKR and Energy Capital Partners progresses

BNP Paribas SA's CFD Transactions in DCC Energy Securities on 9 November 2026

The disclosure details multiple cash-settled contract for difference transactions referencing DCC Energy Plc securities under ISIN IE0002424939. BNP Paribas SA reduced a long position by 3,206 reference securities and executed a series of short position increases totalling 1,358 reference securities across nine separate CFD lines, alongside one long position increase of 78 reference securities. All transactions were conducted at a uniform price of 64.4 per unit. The dealings were carried out in a client-serving capacity, consistent with the exempt principal trader's recognised intermediary status under Irish Takeover Panel rules.

Connection to Energy Capital Partners and KKR's Offer for DCC Energy Plc

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 offer parties in the ongoing DCC Energy Plc takeover process. This connection triggers the mandatory dealing disclosure obligation under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. The filing confirms that no indemnity arrangements, option agreements, or understandings relating to voting rights or future acquisition of relevant securities exist between BNP Paribas SA and any party to the offer, with both applicable sections recorded as "none".

Regulatory Framework Governing the Form 38.5(a) Filing for DCC Energy

The Form 38.5(a) filing is a regulatory instrument required under Irish takeover law when a connected exempt principal trader with recognised intermediary status undertakes dealings in the securities of an offer target. DCC Energy Plc, an energy distribution business operating across multiple markets, is subject to Irish Takeover Panel oversight throughout the offer period. The disclosure was submitted by BNP Paribas London's Compliance Control Room and published via a Regulatory Information Service on 10 November 2026, fulfilling the firm's public disclosure obligations. Investors monitoring the DCC Energy takeover situation may note that further such filings from connected parties are likely as the process continues.