INDUSTRY NEWS

Masdar to acquire 67% stake in Greek renewables company Terna Energy

2024-06-24

Masdar plans to grow its portfolio in Europe to 100GW by 2030. Image: Masdar

UAE state-owned renewable energy developer Masdar has reached an agreement to buy a 67% stake in Greece’s Terna Energy.

Masdar bought Terna Energy’s stake at €20 (US$21.45) per share. The acquisition price represented an equity valuation of €2.4 billion and an enterprise value of €3.2 billion. After completing the transaction, Masdar said it will launch an all-cash mandatory tender offer to acquire all the remaining outstanding shares of Terna Energy.

(The above content is reproduced from pv-tech,By Simon Yuen)

 

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