Terna — M&A Activity 2022

Dec 22, 2022

SECOND CLOSING FOR THE SALE OF THE TERNA GROUP'S LATIN AMERICAN POWER TRANSMISSION ACTIVITIES COMPLETED

• In execution of the agreement signed on April 29, Terna S.p.A. has sold to CDPQ the company which holds a power line in Uruguay, for a value of over 27 million euros
• The closing of the other projects in Brazil and Peru is planned to occur in multiple steps, subject to the fulfilment of certain customary conditions

Rome, 22 December 2022 – In execution of the agreement signed on 29 April and following the fulfilment of certain customary conditions set forth by the same deal, Terna S.p.A. has today completed the second closing for the sale to CDPQ, a global investment group, of the Difebal S.A. company that holds a power line in Uruguay for a total of 214 km. The equity value of the transaction is at over 27 million euros, in line with the terms of the agreement.

The closing of the other projects in Brazil and Peru will be completed in multiple steps, subject to the fulfilment of certain customary conditions.

The transaction represents a further important step in the broader strategy of refocusing the Terna Group's international footprint, as already announced with the update of the 2021-2025 Industrial Plan.

Terna Group was assisted by Santander Corporate & Investment Banking as financial advisor, by the international law firm DLA Piper as legal advisor and by Posadas, Posadas & Vecino as local advisor. CDPQ was assisted by Pinheiro Neto Advogados as legal advisor and by Ferrere as local advisor.