Masdar Completes Full Acquisition of Greece's Terna Energy
Deal News | Apr 10, 2025 | Zawya
UAE-based renewable energy firm, Masdar, has completed its acquisition of Greek energy company Terna Energy. Having initially bought a 70% stake in November at 20 euros per share, Masdar finalized the purchase with a tender offer for the remaining shares, valuing Terna at 3.2 billion euros in enterprise value and 2.4 billion euros in equity valuation. This acquisition aligns with Masdar's expansion strategy in Europe, Asia, and the US amidst the challenging landscape of high interest rates and debt costs. Masdar plans to augment its renewable energy capacity to 100 gigawatts by 2030 from its current 51 gigawatts. The company is headquartered in Abu Dhabi and is backed by TAQA, ADNOC, and the Mubadala Investment Company. Moreover, Masdar is reportedly contemplating an IPO, as discussed by Reuters.
Sectors
- Renewable Energy
- Mergers and Acquisitions
Geography
- United Arab Emirates – Masdar is headquartered in the UAE and is the subject of the article.
- Greece – The target company, Terna Energy, is based in Greece.
Industry
- Renewable Energy – The article involves Masdar, a renewable energy company, acquiring Terna Energy, another company in the same sector.
- Mergers and Acquisitions – The content of the article focuses on the acquisition of Terna Energy by Masdar, which falls under the broad classification of M&A activities.
Financials
- 3.2 billion euros – The enterprise value of Terna Energy as stated by Masdar.
- 2.4 billion euros – The equity valuation of Terna Energy according to Masdar.
- 20 euros per share – The price per share paid by Masdar in the acquisition of Terna Energy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Masdar | Bidding Company | Company | A UAE-based renewable energy company that acquired Terna Energy. |
| Terna Energy | Target Company | Company | A Greece-based energy company acquired by Masdar. |
| Mohamed Jameel Al Ramahi | CEO | Person | CEO of Masdar who commented on the acquisition. |
| TAQA | Controlling Entity | Company | A power and water firm controlling Masdar. |
| ADNOC | Controlling Entity | Company | A state oil giant and controlling part of Masdar. |
| Mubadala Investment Company | Controlling Entity | Company | A sovereign wealth fund controlling Masdar. |