Masdar has announced that it has completed the acquisition of 70% of the outstanding shares of Terna Energy from Gek Terna and other shareholders, and received all regulatory approvals.
The deal, agreed at a price of 20 euros per share, valued Terna Energy at an enterprise value of 3.2 billion euros. Following the closing of the transaction, Masdar will seek regulatory approvals from the Hellenic Capital Markets Commission (HCNC) for the launch of an all-cash mandatory tender offer to acquire the outstanding shares of Terna Energy. Terna Energy holds a 1.2 GW diversified portfolio in Greece, as well as projects in Bulgaria and Poland. The company owns and operates clean energy projects across wind, solar, biomass, and hydro technologies.
