Goldman Sachs International has filed a Form 38.5(b) disclosure with the Irish Takeover Panel relating to dealings in DCC Energy Plc (DCC) ordinary shares, dated 3 November 2026. The filing, published on 4 November 2026, records a loan partial return of 1,033 EUR 0.25 ordinary shares at no disclosed price per unit. Goldman Sachs International is acting as adviser to the offeree in connection with a consortium comprising Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P., which has tabled a takeover approach for DCC Energy Plc. Investors following the offer process may note that such disclosures are a regulatory requirement during active takeover proceedings under Irish Takeover Panel rules.

Key Points

  • Goldman Sachs International filing relates to DCC Energy Plc (DCC), an energy distribution business subject to a consortium takeover approach
  • A loan partial return of 1,033 EUR 0.25 ordinary shares in DCC Energy Plc was recorded on 3 November 2026, with no price per unit disclosed
  • Following the dealing, Goldman Sachs International held a long position of 130,941 shares (0.15%) and a short position of 187,415 shares (0.21%) in DCC Energy Plc
  • Investors should watch for further Rule 38.5 disclosures and any formal offer documentation from the ECP and KKR consortium

Goldman Sachs International's Post-Dealing Position in DCC Energy Plc Ordinary Shares

Following the 3 November 2026 dealing, Goldman Sachs International reported a total long position of 130,941 EUR 0.25 ordinary shares in DCC Energy Plc, representing 0.15% of the relevant class, and a total short position of 187,415 shares, equating to 0.21%. The disclosure confirms that all positions are held in relevant securities only, with no derivatives other than options and no options or agreements to purchase or sell recorded in either the long or short column. The company did not disclose a price per unit for the loan partial return transaction.

Nature of the Loan Partial Return Transaction Filed Under Irish Takeover Panel Rule 38.5(b)

The sole dealing recorded in the Form 38.5(b) is classified as a purchase described as a loan partial return, covering 1,033 EUR 0.25 ordinary shares in DCC Energy Plc. Under Irish Takeover Panel rules, exempt principal traders connected to an adviser in an offer situation are required to disclose such dealings without delay. Goldman Sachs International is identified in the filing as an exempt principal trader acting without recognised intermediary status, or with such status but not in a client-serving capacity, and confirms no agreements or arrangements relating to voting rights or derivatives exist.

ECP and KKR Consortium Takeover Context and Goldman Sachs International's Advisory Role

The filing explicitly identifies Goldman Sachs International's connection to the offer as adviser to the offeree, with the consortium consisting of Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P. DCC Energy Plc is an energy products distribution business operating across multiple European markets. The existence of an active consortium bid triggers ongoing disclosure obligations for all connected parties under the Irish Takeover Panel Act, 1997, and the Takeover Rules, 2013, meaning further Form 38.5 filings from connected parties are likely as the offer process continues.