wind

Iberdrola sells 10% stake in Gamesa Corporación Tecnológica

Iberdrola has completed the sale of 10% of Gamesa, although it will continue as the main shareholder and will maintain its strategic agreements with Gamesa, which will continue to be Iberdrola’s main supplier of wind turbines.

The sale was included in Iberdrola’s 2008-2010 Strategic Plan and was carried out via Morgan Stanley & Co. International PLC, which placed a total of 24.3 million shares among qualified and institutional investors. The sale of this stake for €391.7 million represents a capital gain for Iberdrola of €112 million.

 

The sale will not affect the strategic agreements between the Iberdrola Group and Gamesa, which will continue to be the principal supplier of wind turbines to Iberdrola’s renewable energy business. It will also not change Iberdrola’s standing as principal shareholder of Gamesa, leaving its shareholding at 14.1046%.

 

For additional information:

 

http://www.iberdrola.es/

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