Masdar Completes 100% Acquisition of TERNA ENERGY
Deal News | Apr 10, 2025 | Zawya
Abu Dhabi Future Energy Company PJSC, known as Masdar, has announced the completion of its acquisition of TERNA ENERGY SA, thus gaining 100% ownership. The acquisition was finalized after a mandatory tender offer and squeeze-out process for the remaining shares at a price of 20 euros each, following an initial acquisition of a 70% stake in the prior year. The transaction, which valued TERNA ENERGY at 3.2 billion euros, marks one of the largest energy-related deals within the EU. As an instrumental player in Europe's renewable energy landscape, TERNA ENERGY boasts a diversified portfolio across several countries, including strong positions in Greece, Bulgaria, and Poland. The acquisition is aligned with Masdar's strategy to enhance its global renewable energy capacity and support regional transitions toward net-zero goals by 2050. As part of the integration, TERNA ENERGY will be delisted from the Athens Stock Exchange, enhancing Masdar's strategic role in facilitating energy transitions across Europe. TERNA ENERGY's current leadership, including Georgios Peristeris, will remain at the helm to drive further growth in conjunction with Masdar's vision.
Sectors
- Renewable Energy
- Private Equity and Mergers & Acquisitions
Geography
- Greece – Greece is the host country for TERNA ENERGY, making it central to the acquisition by Masdar.
- United Arab Emirates – Masdar, headquartered in Abu Dhabi, UAE, orchestrated the acquisition as part of its global renewable energy strategy.
- European Union – The transaction aligns with broader EU goals of net-zero emissions by 2050 and includes projects in Bulgaria and Poland.
Industry
- Renewable Energy – The article discusses Masdar's acquisition of TERNA ENERGY, focusing on renewable energy expansion in Southeastern and Central Europe through wind, solar, biomass, and hydro projects.
- Private Equity and Mergers & Acquisitions – The acquisition of TERNA ENERGY by Masdar represents a significant private equity transaction in the European renewable energy sector.
Financials
- 20 euros per share – Price per share for the remaining 30% of TERNA ENERGY acquired by Masdar.
- 3.2 billion euros – Enterprise value of TERNA ENERGY at the time of Masdar's acquisition, marking it as the biggest transaction in the Athens Stock Exchange.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Masdar (Abu Dhabi Future Energy Company PJSC) | Acquiring Company | Company | A leading global renewable energy company based in the UAE, aiming to reach a renewable portfolio capacity of 100GW by 2030. |
| TERNA ENERGY SA | Target Company | Company | A key player in the renewable energy sector in Southeastern and Central Europe, with a diversified portfolio across multiple technologies. |
| GEK TERNA SA | Previous Major Shareholder | Company | A major shareholder of TERNA ENERGY prior to the acquisition by Masdar. |
| Rothschild & Co. | Financial Advisor | Company | Provided financial advisory services to Masdar for the acquisition. |
| Simmons & Simmons and Bernitsas Law | Legal Advisors | Company | Provided legal advisory services to Masdar in the acquisition process. |
| Georgios Peristeris | Executive Chairman of TERNA ENERGY | Person | Will continue to lead TERNA ENERGY under Masdar's ownership. |