On Monday OHB’s shares soared on the Frankfurt stock exchange after the German group announced that US investment firm KKR planned to launch a takeover bid for all its outstanding shares.

KKR is seeking a 30% stake in the parent company of LuxSpace, the Luxembourg-based integrated provider of small satellites and space applications and services. Offering €44 per share, KKR would value OHB at €768m. “KKR’s capital will support OHB’s future development. At the same time, the offer provides existing shareholders with the opportunity for immediate value realisation at an attractive premium,” KKR’s head of the German-speaking region, Christian Olli.

The Fuchs family, which owns just under 70% of OHB, will retain its stake and remain the majority shareholder, while Marco Fuchs will remain CEO for a further five years, according to Reuters. OHB has stated that its board of directors and supervisory board support the offer and intend to recommend that shareholders accept it.

“We are delighted that, with KKR as a minority investor, we have found the ideal partner to support our long-term growth and vision,” said Fuchs.

OHB is a space and technology group headquartered in Bremen, Germany. Currently listed on the stock exchange, it employs nearly 3,000 people at 15 sites across Europe.

This article was first published in French on . It has been translated and edited for Delano.