Abu Dhabi Future Energy Company PJSC – Masdar, the UAE-based clean energy firm, has reached a definitive agreement with GEK TERNA SA (GEKTERNA.AT) and other shareholders of TERNA ENERGY SA , with the intention to initially acquire 67 percent of the company’s outstanding shares, subject to regulatory approvals and other conditions.
After completion of the transaction, Masdar will launch an all-cash mandatory tender offer to acquire all the remaining outstanding shares of the company with the intention of reaching 100 percent.
The transaction and subsequent offer values TERNA ENERGY’s total equity at €2.4 billion ($2.6 billion) with an enterprise value of €3.2 billion ($3.4 billion), making it the largest energy transaction on the Athens Stock Exchange, and one of the largest in the European renewables market.
The deal is expected to provide significant capital investment in Greece and other European countries, supporting TERNA ENERGY’s contribution to