George Peristeris, CEO of GEK Terna, has undoubtedly attracted a lot of attention over the last days following the conclusion of the largest energy deal in the history of the Athens Stock Exchange, and one of the largest in the European Renewable Energy Sector.
More specifically, Peristeris has managed to come to an agreement with Abu Dhabi-based Masdar energy group Masdar for the sale of the majority package of Terna Energy at the price of 20 euros/share.
What does this mean in practice? In addition to the indirect financial benefit, which results from the fact that he is the main shareholder of GEK TERNA (29%) and the main shareholder of Terna Energy (37.9%), Peristeris will also receive the amount of 260 million euros, which corresponds to the direct participation of 11.05% that it maintains in the share capital of the acquired company.
This is a significant amount of money, which significantly strengthens the liquidity of the head of TERNA, at a time when business deals are “blooming” and creating new values.
After the highly successful and profitable deal, George Peristeris, who played a leading role in the establishment, development and dominance of Terna Energy from 1997 until today, can now focus on GEK TERNA, in which he owns a 29% stake, as mentioned above, and in which he has been working continuously for at least four decades (since 1981).
Next moves
Today, GEK TERNA is the No. 1 company in constructions (projects 5.5 billion euros), while it also plays a key role in the concessions sector, which showed revenues of 61.1 million euros in the first quarter of 2024 and operating profitability of 38.2 million euros (from 48.1 million and 27.9 million, respectively, in the first quarter of 2023).
