The EU gave the green light for the acquisition of TERNA Energy by Masdar of the Emirates – Masdar will initially acquire 67% of TERNA Energy
The European Commission has given the green light, based on the EU merger regulation, for the acquisition of TERNA Energy by Abu Dhabi Future Energy Company PJSC – Masdar (‘Masdar’) of the United Arab Emirates.
The transaction, as stated in the Commission’s announcement, mainly concerns the sector of electricity from Renewable Sources.
The Commission concluded that the deal does not raise competition concerns, given the limited position the companies will have in the market after the transaction is completed. At the same time, it is noted that the deal was examined by the Commission based on the simplified merger examination procedure.
It is recalled that Masdar, the UAE’s clean energy leader, will initially acquire 67% of the existing shares of TERNA Energy, for 20 euros per share. Following the completion of the transaction, Masdar will launch a mandatory public offer to acquire all of the company’s remaining shares, with the aim of reaching 100%.
Source: Skai
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