Looking for the best way to finance an acquisition TERNA Energy The Australian group is First Guardian, say sources monitoring the implementation of the relevant agreement. At the same time, they note that it is clear and clear to this day the firm will of Australian investors to successfully complete the transaction. However, its complexity is one of the reasons for the delay in signing it.

Moreover, this agreement, the value of which is estimated at more than 2.5 billion euros, not counting the investment program to be prepared by TERNA Energy, in the amount of more than 6 billion euros until 2029. At the same time, it seems that the Australians first wanted to agree with the leadership of the GEK TERNA group, and then start discussing its financing, which created an additional delay.

According to well-informed sources, another reason why several months have passed without final signatures is that First Sentier had previously discussed Macquarie’s involvement in the deal. In particular, another Australian investment group has expressed interest in co-financing the acquisition by obtaining an appropriate stake in the authorized capital of TERNA Energy. After appropriate negotiations, no agreement was reached. It is recalled that this is the second unsuccessful attempt by Macquarie to get involved in the acquisition of TERNA Energy, since about a year ago he was one of the first official “boyfriends” of the company.

First Sentier is looking for the best way to finance the deal it wants to complete.

This was followed by an approach with First Sentier, with whom the GEK TERNA group agreed to demand a concession contract for Attica Road. The agreement reached provides for a price of 22 euros per share, which estimates the value of TERNA Energy at 2.5 billion euros. At the same time, First Sentier will be asked to buy back all shares through a public offer, since the intention and sine qua non of the group’s management was to reward all shareholders, not just strategic investors. It is noted that GEK TERNA owns 37.3% of the company, Mr. Giorgos Peristeris another 11.06%, and Atale Enterprises Ltd. (Vangelis Marinakis) 5.98%. The remaining 45.66% is controlled by shareholders with a share of less than 5%.

According to the information, both parties have not set any final or binding date for the completion of the agreement. According to GEK TERNA group leaders, “TERNA Energy generates significant profit for the group, so there is no need to urgently accelerate a possible sale.”

At the same time, the GEK TERNA group has secured the necessary funding for its investment program and does not expect the €950 million in revenue generated from the sale of its stake in TERNA Energy to continue with other projects. for example an integrated holiday complex in Elliniko or a concession in Egnatia Street.