Masdar completes acquisition of TERNA ENERGY

Masdar, officially known as Abu Dhabi Future Energy Company PJSC, has finalized the acquisition of a 70% stake in TERNA ENERGY SA from GEK TERNA SA and other shareholders, at a rate of 20 euros per share, marking the largest ever energy transaction on the Athens Stock Exchange. The deal leaves TERNA ENERGY valued at 3.2 billion euros, cementing a major milestone in the EU renewables sector. Masdar's strategy includes making a mandatory tender offer to acquire the remaining shares, subject to Hellenic Capital Markets Commission approval. TERNA ENERGY is an established leader in Greece's renewable energy landscape, with an expansive portfolio across wind, solar, biomass, and hydro technologies. This acquisition aligns with Masdar's ambition to bolster its European portfolio as it aims for a global capacity of 100GW by 2030. Masdar's CEO, Mohamed Jameel Al Ramahi, expressed his enthusiasm to work with TERNA's leadership towards further expansion. GEK TERNA Chairman, Georgios Peristeris, highlighted the symbiotic vision with Masdar for promoting clean and affordable energy in Greece and beyond. The transaction saw extensive advisory support from top global financial and legal advisory firms.