GF I Kiln HoldCo to acquire Kyoto Group for NOK860m.

GF I Kiln HoldCo, an acquisition vehicle owned by Glentra Capital, offered to acquire Kyoto Group, a thermal energy storage solutions provider, for NOK860m. "The board believes that the combination of the share issue and the offer is in the best interest of our shareholders and that having Glentra as a long-term strategic shareholder will benefit the company, employees, partners and customers. This solution will give Kyoto Group the financial resources to accelerate its commercialization and its contribution to the transition to renewable energy in industrial applications," Eivind Reiten, Kyoto Group Chairman.