Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Iberdrola explores Spain unit stake sale

Source: Reuters - Wed 30th Apr 2014
Iberdrola explores Spain unit stake sale

Spanish utility Iberdrola has hired Morgan Stanley to explore the sale of a minority stake in its Spanish distribution business, a source with knowledge of the matter said on Tuesday.

The company has been looking to sell assets to invest in its network after earnings were hit by new Spanish laws enacted to curb a growing tariff deficit after a decade of mismatched regulated power rates and costs.

"They've been looking into selling a minority stake for two months and they've now given a mandate," the source said on condition of anonymity.

Iberdrola confirmed on Tuesday that it was analysing different options for selling assets. On-line newspaper El Confidencial said on Tuesday Iberdrola could sell a 25% stake in the unit and raise about €3 bln.

The source said potential buyers could be sovereign funds and investment funds interested in having a fixed income without managing the business.

Recommended Reading :

* Spain has one of the highest costs of electricity in Europe

* Spanish watchdog objects to new electricity rate calculation system

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

 
Use the hair extensions pretty curling styling spray to evenly spray on the hair wigs part that wants to highlight the hair extensions uk curl, then use the curling iron to start at the horizontal line behind the ear, and the human hair extensions uk single layer is rolled, and the handsome yet playful hairstyle is born.