As disclosed in its announcement to the Athens Stock Exchange, the company has confirmed that, upon fulfillment of all conditions precedent stipulated in the Share Purchase and Covenants Agreement dated June 20, 2024, between GEK TERNA and Masdar Hellas Sole Proprietorship S.A., the Closing of the Transaction (as defined in the initial announcement) is set for Thursday, November 28, 2024.
It is noteworthy that, as part of this landmark transaction, Masdar, based in the United Arab Emirates, has acquired shares in Terna Energy from its parent company (37.3%), Mr. George Peristeris (11%), shipowner Vangelis Marinakis (6%), as well as from various management executives, including CEO M. Maragoudakis.
Following this acquisition, a public offer will be extended to the remaining shareholders at the same price at which the primary shareholders sold their stakes.
Masdar has been operating in Greece since 2021, where it is jointly developing a 65MW photovoltaic plant with TEMES, a company owned by the Konstantakopoulos family. Additionally, Masdar has entered into a binding agreement with the Ministry of Environment and Energy to finance a project aimed at transforming the island of Poros into a green and sustainable destination, with an investment of 14 million euros.
