A consortium led by US private equity firms KKR and Energy Capital Partners is in advanced discussions to acquire Irish energy distributor DCC in a deal that could value the company at more than £5 billion ($6.7 billion, approximately €6.2 billion), as reported by OilPrice.com, citing a Reuters report.

OilPrice.com reported that the latest proposal values DCC at approximately £65 per share, a significant increase from an earlier £58-per-share offer that DCC's board unanimously rejected in April, concluding it failed to reflect the value of the business and its long-term prospects.

DCC operates one of Europe's largest energy distribution businesses, supplying LPG, fuel oils and other energy products across multiple international markets. The company has spent recent years reshaping its portfolio through acquisitions and divestments, with increasing focus on energy and related infrastructure.

Shares in DCC rose nearly 3% following reports of the improved proposal, trading around £61.75. The stock has gained more than 11% since the original takeover approach became public in April, reflecting growing investor expectations that a higher bid could materialise.

The revised approach indicates the consortium remains convinced of DCC's strategic value despite the initial rejection. The consortium faces a deadline under UK takeover rules to either submit a formal offer or withdraw from the pursuit for six months.

Neither DCC nor the prospective buyers have publicly commented on the latest reported valuation.

If completed, the transaction would rank among the largest energy-related acquisitions in Europe this year. The deal reflects a broader trend of increasing private equity interest in fuel distribution, energy logistics and infrastructure assets at a time of heightened uncertainty across global energy markets.

DCC's footprint across LPG and fuel oil distribution in Europe makes it a strategically significant asset for investors seeking exposure to energy infrastructure with established customer bases and long-term contractual revenues.

See the full report on the proposed KKR and Energy Capital Partners acquisition of DCC.