UAE – Mubasher: Abu Dhabi Future Energy Company (Masdar) has reached a definitive agreement to acquire a controlling stake in Greece-based Terna Energy in the largest-ever energy transaction on the Athens Stock Exchange and one of the largest in the European renewables market.

Masdar reached the deal with Gek Terna and other shareholders to initially acquire 67% of Terna Energy’s outstanding shares at the completion of the transaction that is subject to regulatory approvals and other conditions precedent, according to a press release.

With an enterprise value hitting EUR 3.20 billion, the acquisition transaction and subsequent offer values Terna Energy’s total equity at EUR 2.40 billion.

Once the transaction is completed, Masdar will launch an all-cash mandatory tender offer to acquire the remaining outstanding shares of Terna Energy for full acquisition with the intention of reaching 100%.

This major acquisition transaction is expected to provide significant capital investment in Greece and other European countries.

Earlier in 2024, the UAE Masdar unveiled its intention to acquire a 50% shareholding in the US-based Terra-Gen Power Holdings II from Energy Capital Partners (ECP).