Terna

M&A Activity • Nov 18, 2024

THIRD CLOSING COMPLETED FOR THE SALE OF TERNA GROUP'S SOUTH AMERICAN POWER TRANSMISSION ACTIVITIES

In execution of the agreement signed on April 29, 2022, Terna has sold 150 km of power lines in Brazil for a value of approximately € 79 million.

The transaction is consistent with the targets outlined by Terna in its 2024-2028 Industrial Plan.

Rome, 18 November 2024 – In execution of the agreement signed on April 29, 2022, and following the fulfilment of certain customary conditions envisaged therein, Terna Plus s.r.l., a Terna Group company, has today completed the third closing for the sale to CDPQ, a global investment group, of the company "SPE Transmissora de Energia Linha Verde I S.A.", owner of a power line in Brazil totalling approximately 150 km, for an equity value of approximately € 79 million, in line with the terms of the agreement.

The transaction, as a whole, represents a further step in the strategy of refocusing the Terna Group's South American activities, reaffirmed during the presentation of the 2024-2028 Industrial Plan.

Terna was assisted by Santander Corporate & Investment Banking as financial advisor, and by the international law firm DLA Piper as legal advisor. Pinheiro Neto Advogados acted as legal advisor to CDPQ.