Masdar's EUR 3.2bn Takeover Bid for Terna Energy

Jun 20, 2024 03:18 PM ET
  • Masdar eyes record-breaking EUR 3.2 billion takeover of Terna Energy SA, signaling major growth in EU renewables market.

Masdar, a UAE-based renewables developer, is seeking a full takeover of Greek renewables firm Terna Energy SA for about EUR 3.2 billion. This deal, if successful, would be the largest-ever energy transaction on the Athens Stock Exchange and one of the largest in the EU renewables industry. Masdar has already secured a deal to acquire a 67% stake in Terna and plans to make a subsequent tender offer for the remaining shares.

The proposed takeover terms value Terna at EUR 2.4 billion, with shares trading higher at EUR 19.33. This move aligns with Masdar's growth ambitions in Greece and Europe, aiming to reach a global capacity of 100 GW by 2030. Terna, established in 1997, focuses on wind, solar, hydroelectric, and pumped storage projects in Greece and Europe.

Is Masdar's EUR 3.2 billion bid for Terna Energy the largest in EU renewables?

  • Masdar's EUR 3.2 billion bid for Terna Energy is indeed one of the largest in the EU renewables industry.
  • The proposed takeover terms value Terna at EUR 2.4 billion, with shares trading higher at EUR 19.33.
  • Masdar has already secured a deal to acquire a 67% stake in Terna and plans to make a subsequent tender offer for the remaining shares.
  • This deal, if successful, would be the largest-ever energy transaction on the Athens Stock Exchange.
  • Masdar's growth ambitions in Greece and Europe aim to reach a global capacity of 100 GW by 2030.
  • Terna Energy, established in 1997, focuses on wind, solar, hydroelectric, and pumped storage projects in Greece and Europe.
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