The management of terna Holding GmbH and BPE Unternehmensbeteiligungen G.m.b.H. signed an agreement to acquire terna Holding GmbH from Allgeier SE (XTRA:AEI) in a management buyout on December 23, 2015. The transaction also includes acquisition of subsidiaries terna GmbH - Zentrum für Business Software and terna Switzerland AG. The purchase price will be paid predominantly in cash when the transaction is executed. The transaction will also include an amount comprising a vendor loan. An earnout has not been agreed. AE BG Rho is backed up by terna's management team and by terna's financing partners. The transaction will be concluded before December 31, 2015. Sascha Pfeiffer, Martin Kühner, Malte Abrams and Ilja Ikonnikov of Altium Capital Limited acted as exclusive financial advisors and Philip Meichssner and Mark Friedrich of Osborne Clarke acted as legal advisors to Allgeier.

The management of terna Holding GmbH and BPE Unternehmensbeteiligungen G.m.b.H. completed the acquisition of terna Holding GmbH from Allgeier SE (XTRA:AEI) in a management buyout on January 1, 2016. terna Holding GmbH reported turnover €30 million in 2015. Philip Meichssner of Osborne Clarke acted as a legal advisor to Allgeier SE.