Masdar’s public offer for the remaining 29.57% of TERNA ENERGY’s shares listed on the Athens Stock Exchange is positioned at the upper end of the company’s valuation.
This conclusion was reached by TERNA ENERGY’s Board of Directors, as outlined in its reasoned opinion, which was made public by the Athens Stock Exchange.
TERNA ENERGY’s Valuation Range
TERNA ENERGY’s Board of Directors took into account the report from its financial advisor, AXIA, which determined that the company’s valuation ranges between €11.9 and €21.5 per share.
According to the report, “Based on the results of the methods used to assess the Offered Consideration (€20 per share) in the context of the Public Offer by the Offeror, it is determined that the Offered Consideration falls within the valuation range, specifically at its upper limits. Therefore,” the Board concludes in its reasoned opinion, “the offered consideration of €20 per share is at the upper end of the valuation range, as determined in the report.”
Additionally, Masdar’s offer price exceeds the weighted average stock price of the six months preceding the obligation to submit a public offer by 3.5%, which stood at €19.32 per share.
Delisting from the Athens Stock Exchange
As stated in TERNA ENERGY’s Board of Directors’ reasoned opinion, if Masdar acquires 100% of the shares (118,355,090 shares), the Offeror will request a general meeting of shareholders to propose the delisting of the company’s shares from the Athens Stock Exchange.
It is noted that as of January 30, Masdar held 88.89% of TERNA ENERGY’s shares.
Masdar’s Business Plans for TERNA ENERGY
According to the Board of Directors of the listed company, Masdar’s business plans, as outlined in the information memorandum, aim to strengthen TERNA ENERGY’s existing business strategy and objectives. The intention is to establish the company as one of the key regional platforms in Southeastern Europe.
Furthermore, the Board adds: “The public offer is not expected to have negative effects on labor relations or the number of employees of the company and its subsidiaries, provided that no significant changes occur in market and economic conditions.”
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Seismic Activity in Santorini Raises Concerns for Tourism
So far, major international media outlets have not reported or provided assessments regarding the immediate impact on the island’s tourism activity in terms of bookings or cancellations.
AEGEAN Airlines Adds Extra Flights to Santorini Amid Ongoing Seismic Activity
As reported, the Blue Star Chios ferry, departed from the Athinios port for Athens, fully booked, in the early hours of Monday
Quakes Rattle Santorini Overnight, Authorities Say Island is Safe
Over the past 24 hours, hundreds of quakes struck between Santorini and Amorgos and continued overnight. Greek authorities say the island is safe and all measures are precautionary
Greek Farmers Protest for Renewed Greece-Bulgaria Water Deal
Farmers are demanding that Greece renews an expired Greece-Bulgaria water deal to ensure water continues flowing to farms in the Evros region
Santorini, Amorgos Announce Evacuation Points Following Tremors
Santorini, Amorgos, and nearby islands have been rocked by over 200 tremors in the past two days, including a quake measuring 4.9 on the Richter scale in Santorini on Sunday evening
Dozens of Earthquakes Near Santorini Force School Closures
Scientists say the earthquakes are attributed to a submarine fault near Santorini, not volcanic activity.
Cycling Tourism is a Booming Billion-Euro Industry. Will Greece Keep Missing out?
With an estimated value of €138 billion, cycling is one of the world's top 10 fastest-growing tourism activities. Yet, Greece struggles to shift gears and establish itself as a leader in this thriving sector of sustainable tourism.
Tempi: Rail Accident Agency Report to be Unveiled on Feb. 27
Agency head: 'We will highlight errors and omissions, working with absolute independence'
Athens welcomes UNFICYP Mandate Renewal
Greece, as a member of the Security Council for the 2025-2026 term, coordinated with the Republic of Cyprus to exert consistent efforts during negotiations for a renewal of the mandate
GPO Poll: Parties’ Support Declining
Ruling center-right ND is shown with 25.1% of respondents’ preferences, down from 26.7% in the same poll last month; PASOK down to 16.4%
