GEK Terna is expected to announce the sale of Terna Energy in the following few weeks, a move that will bring significant liquidity to the construction-energy Group for its next investments.
According to sources, discussions with the Masdar fund of the United Arab Emirates are at an advanced stage, financing has been secured and the sale in all likelihood will proceed.
The investment fund will initially purchase GEK Terna’ stake (37.30%), Atale’s stake (5.98%) and the Group’s president and CEO, Giorgos Peristeris (11.06%) in Terna Energy.
Public offering
A public offering will follow, as it will be mandatory, since the shareholders with a percentage of less than 5% own 45.66% of Terna Energy.
If the sale is concluded, it will be one of the largest that will have taken place in the country. The capitalization of Terna Energy on the Stock Exchange is approximately 2.1 billion euros.
Interest from major international investors
It should be noted that the management of GEK Terna has not denied reports related to the sale of Terna Energy.
However, it is not yet in a position to specifically refer to discussions with the United Arab Emirates fund.
It has recently reiterated that Terna Energy “has always been the recipient of significant interest from major international investors” and that “this interest is always evaluated.”
Terna Energy has been a leader for more than 20 years in the production of clean energy, with a wide portfolio of projects in Greece and abroad. It is the largest investor in the field of Renewable Energy Sources in Greece and its development is progressing, aiming at a total installed capacity of 6 GW by 2029.
