News for GEK TERNA Holdings, Real Estate, Construction S.A. (GEKTERNA.AT)

Masdar has successfully completed the acquisition of 70% of the outstanding shares of TERNA ENERGY to become majority shareholder of the Greek clean energy champion Following the closing of the transaction, Masdar will seek regulatory approvals for launch of an all-cash mandatory tender offer to acquire all the remaining shares Masdar will bring long-term capital and global expertise to supercharge TERNA ENERGY's growth plans as it targets 6GW of renewable energy operational capacity by 2029, supporting the energy transition in Greece and Eastern Europe The acquisition will play an important role in growing Masdar's portfolio in Europe as it targets 100GW global capacity by 2030 ABU DHABI, UAE and ATHENS, Greece , Nov. 29, 2024 /PRNewswire/ -- Abu Dhabi Future Energy Company PJSC - Masdar ('Masdar'), the UAE's clean energy leader, announced today that it has successfully completed the acquisition of 70% of the outstanding shares of TERNA ENERGY SA (TENERGY.AT) from GEK TERNA SA (GEKTERNA.AT) 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 3.2bn euros, representing the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the EU renewables industry.