KKR completes tender offer for Forum Engineering

KKR (KKR) announced the completion of its tender offer for the common shares and share options of Forum Engineering on December 23, 2025. The Tender Offer was made through KJ003 Co., an entity owned by funds managed by KKR. Following the completion of the Tender Offer, the Offeror is expected to acquire 29,761,258 shares of Forum Engineering’s common stock, representing a total ownership ratio of 55.89% on a fully diluted basis. Settlement will commence on December 30, 2025. In addition to the shares acquired in the Tender Offer, Forum Engineering will conduct a tender offer for its own shares, in which its major shareholder, La Terre Holdings Co., Ltd., is expected to tender its entire 37.07% stake. After the completion of the Self-Tender, the Offeror aims to acquire all remaining shares through a share consolidation process to achieve full ownership of Forum Engineering. An extraordinary shareholders’ meeting concerning the share consolidation is planned for late February 2026. KKR is making its investment predominantly from its Global Impact Fund II.