Masdar has announced a definitive agreement with Gek Terna and other shareholders of Terna Energy to acquire an initial 67% of the company's outstanding shares.
This acquisition is subject to regulatory approvals and other conditions. Following the completion of the transaction, Masdar will launch an all-cash mandatory tender offer to acquire the remaining outstanding shares, with the aim of reaching 100% ownership. The transaction and subsequent offer value Terna Energy's total equity at €2.4 billion, with an enterprise value of €3.2 billion.
