GEK TERNA to merge with Motor Oil in a €128m deal.

GEK TERNA, a construction company, agreed to merge with Motor Oil, a company in the energy sector, in a €128m deal. The combination of an enlarged customer base with the most efficient portfolio of generation capacity will establish a highly effective vertically integrated structure that will have the knowhow and will be supported by GEK TERNA and Motor Oil, two of the biggest Groups in the country with a proven experience in the energy sector. With a leading position in the market, the new corporate entity will be best positioned to achieve higher growth rates and superior financial results, while more effectively addressing the challenges of energy transition. The merger of Heron and nrg will achieve significant synergies across all critical operations like procurement, commercial activity and energy management, creating significant value for the consumers and the shareholders.