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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