Morgan Stanley Europe SE has submitted a Form 38.5(a) dealing disclosure to the Irish Takeover Panel in connection with an ongoing takeover offer for DCC Energy plc, the energy distribution and services business. The disclosure, dated 13 November 2026 and covering trades executed on 12 November 2026, was filed under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. Morgan Stanley Europe SE is acting as a connected exempt principal trader with Recognised Intermediary Status, linked to offerors Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P. Investors monitoring the DCC Energy plc offer process may note the continuing regulatory disclosure obligations that accompany the bid.

Key Points

  • DCC Energy plc (DCC) is the subject of a takeover offer from Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P.
  • Morgan Stanley Europe SE filed a Rule 38.5(a) dealing disclosure covering trades in DCC Energy plc ordinary shares on 12 November 2026.
  • Both purchases and sales of 20 ordinary shares (0.25p class) were recorded at 64.60 GBP per unit on the dealing date.
  • Investors should watch for further regulatory disclosures as the Irish Takeover Panel process for DCC Energy plc continues.

Morgan Stanley Europe SE's Client-Serving Trades in DCC Energy plc Ordinary Shares on 12 November 2026

The disclosure confirms that Morgan Stanley Europe SE purchased and sold 20 ordinary shares of DCC Energy plc on 12 November 2026, with both the highest and lowest price per unit recorded at 64.60 GBP for each side of the transaction. The shares involved are of the 0.25 ordinary share class. No cash-settled derivative transactions, stock-settled derivative transactions, or other dealings were reported in this filing. The trades were carried out in a client-serving capacity, consistent with Morgan Stanley Europe SE's status as an exempt principal trader under the applicable Irish Takeover Panel rules.

Energy Capital Partners and KKR Named as Offerors in the DCC Energy plc Takeover Process

The filing identifies Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P. as the parties to the offer with which Morgan Stanley Europe SE is connected. DCC Energy plc, the offeree, is an energy distribution and services company operating across multiple markets. The disclosure is classified as a cash offer, reflected by the N/A response to whether the exempt principal trader is making disclosures in respect of any other party. No indemnity arrangements, option agreements, or understandings relating to voting rights or future acquisitions were reported, with the filing stating "none" for each of these categories.

Irish Takeover Panel Rule 38.5(a) Obligations Governing the DCC Disclosure

Under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, connected exempt principal traders with Recognised Intermediary Status dealing in a client-serving capacity are required to publicly disclose their transactions in relevant securities during an offer period. Morgan Stanley Europe SE's compliance with this obligation reflects the regulatory framework governing transparency during Irish takeover processes. The disclosure was made public on 13 November 2026 and lists contact details for Claire Gordon, reachable at the telephone number provided in the announcement, as the named contact for this filing.