Masdar to Acquire Terna Energy in €3.2 Billion Deal

In a press release, Masdar announced that it had reached a definitive agreement with Terna Energy to completely take over the firm. Masdar is planning to acquire Terna Energy at a valuation of around $3.44 billion.?

According to the release, the transaction and ensuing offer assess Terna Energy’s overall equity at €2.4 billion, with an enterprise value amounting to €3.2 billion.??

The UAE-based renewables developer will initially purchase a 67% stake in the company, contingent on regulatory clearances.?

After the regulatory clearances for that transaction are met and the transaction is completed, the UAE-based firm will launch an all-cash mandatory tender offer to acquire the remaining shares of the company.??

The proposed deal is described as the largest-ever energy transaction on the Athens Stock Exchange and one of the largest deals in the EU renewable industry.??Read more