Abu Dhabi Future Energy Company, Masdar, has entered into an agreement with GEK TERNA SA and other shareholders of Terna Energy SA, to initially acquire 67 percent of the company’s outstanding shares.
Upon completion of the transaction, Masdar will launch a mandatory cash tender offer to acquire all of the Company’s remaining outstanding shares with the intention of achieving 100 percent ownership.
The transaction and subsequent offer values Terna Energy’s total equity at €2.4 billion (AED9.4 billion) with an enterprise value of €3.2 billion (AED12 billion). ‘AED), making it the largest energy transaction ever on the Athens Stock Exchange and one of the largest. the largest in the European renewable energy market.
The deal is expected to generate significant capital investment in Greece and other European countries, supporting Terna Energy’s contribution to Greece’s National Energy and Climate Plan (NECP) and the EU’s net zero emissions target. EU by 2050.
The proposed acquisition demonstrates the scale and ambition of Masdar’s growth plans in the region and further strengthens Masdar’s role as a trusted global energy transition partner to governments, investors, developers and communities around the world.
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