Perfect protagonist of deals its energy sector has emerged in the last 9 months Stock Exchange of Athenswith the agreement of Arab Masdar for its acquisition Terna Energy to be added to a chain of large agreements, partnerships, acquisitions and placements, in general worth 7.2 billion euroswhich has significantly changed the energy landscape of the country, but also of the wider region of south-eastern Europe.
The price of approx 2.4 billion euros for 100% of Terna Energy shares (a public proposal for the acquisition of all shares to follow) comes to confirm the great attractiveness, as well as the great prospects of the sector. It is no coincidence that the sale of the most package turned out to be the greater energy transactions in the history of the domestic capital market, but also one of the largest in the European renewable energy sector.
However, the positive element of the whole case is that Terna Energy is neither the first nor the last stock market deal in this ever-growing industry. Partnerships, acquisitions, mergers and acquisitions form a dynamic puzzle, which forms the profile of a prosperous energy marketwith positive effects on the valuations of all protagonists.
The 8 great deals
In April, for example, the great agreement between PPC and melt, which amounted to 2 billion euros, for the development of a portfolio of 90 energy projects, with a capacity of up to 2GW, in four different countries abroad (Italy, Romania, Bulgaria and Croatia ). In May, it was followed by sale at 5% of Metlen’s shares from the main shareholder, Evangelos Mytilineos, in the amount of 255 million euros (35.5 euros/share).
Meanwhile, a few days before 2024, Intranets and PPC Renewables they have time to announce the mega-synergy for the joint development of a 2.7 GW RES portfolio, in a deal with a potential value of more than 1 billion euros. And all this, while last October PPC got it Enel Romania for 1.24 billion euros, in a strategic move to enter the Balkan region.
Intense business activity is also presented by Motor Oilthat in January got the remaining 25% Anemos from Ellactor for 123.5 million euros, after the initial purchase of 75% by the end of 2022. And do not forget that Motor Oil is about to complete its acquisition. Elector, also a subsidiary of Ellactor, where final details are pending. The deal amounts to 114.7 million euros, which relates to 94.4% of Elektor’s shares (the remaining amount belongs to the Bobola family). A few days ago, at the same time, the Group took the step to expand the Romaniaparticipates in a joint venture (49%) for the development of RES, with a capacity of 86 MW.
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And most importantly, gold energy deals are not expected to end here. After the completion of the transfer of the majority package to the Arabs of Masdar, the eye turned to Helleniq Energy, which cannot be rejected in the next period of time to continue a new share offering, such as the successful done last December , when the main shareholders , ie the Latsis family and the Greek government, gave 11% of the share capital, in a business move of value 235 million euros. Of course, at the moment the progress seems to have “frozen”, something that, however, is not ruled out to change after the end of the summer.
Finally, about ADMIE Membershipsthe listed company expects immediate developments in the face of financial offers for the ongoing tender for the sale of 20% of the shares of “Ariadni”, a special purpose company, which is the executor of the Attica-Crete electricity connection.