Iberdrola

Relevant News Item 16th September 2024

Qatar’s sovereign wealth fund sounds out government to increase current 8.7% stake in Iberdrola, equivalent to €7.4 billion

Bankinter | According to press sources, Qatar’s state investment fund (Qatar Investment Authority) wants to increase its stake in Iberdrola. Qatar’s representatives have reportedly been sounding out the Spanish government to gauge its predisposition to such a corporate move. Qatar entered Iberdrola in March 2011 with just over 6% in a €2 billion transaction and through a capital increase. It later increased its stake to the current 8.7%. The value…

World economy 5th September 2024

Qatar’s sovereign wealth fund wants to increase stake in Iberdrola to more than 10% from current 8.69%

Banco Sabadell: According to press reports, the Qatar Investment Authority wants to raise its stake in Iberdrola from the current 8.69% and will seek to allow it to pass 10%. Assessment: Positive news with limited impact pending confirmation. Qatar would continue to hold the largest stake in the company, followed by Blackrock (5.395%) and Norges (3.116%). An increase in Qatar’s shareholding would have no consequences for the management of the…

World economy 2nd September 2024

US Federal Energy Regulatory Commission authorises Iberdrola to purchase the 18.4% of capital it does not already own in its subsidiary Avangrid

Santander Research |According to the Spanish press, the US Federal Energy Regulator (FERC) has given its approval for Iberdrola (Baa1 e, BBB+ e, BBB+ e) to buy the minority stakes in its US subsidiary Avangrid. On 17 May, Iberdrola had announced its intention to acquire 18.4% of Iberdrola shares held by minority shareholders to take full control of the group for a cost of approximately $2.55 billion. The US Securities…

Companies, Ibex 23rd August 2024

Iberdrola receives SEC approval for purchase of Avangrid

Link | Iberdrola has received approval without objection from the Securities and Exchange Commission (SEC) for the purchase of Avangrid. The company expects the transaction to close by the end of 2024. The SEC has raised no objections to the merger prospectus for the acquisition of the 18.4% stake in Avangrid that IBE does not yet own. However, despite the SEC’s approval, the transaction is subject to obtaining all necessary…

Companies, Ibex, Relevant News Item 22nd August 2024

Iberdrola included again in international FTSE4Good index

Link Securities | Iberdrola (IBE) has been included for another year in the prestigious FTSE4Good international index, designed to facilitate investments in the world’s most sustainable companies, using ESG (environment, sustainability and governance) criteria as a benchmark, the company announced yesterday. IBE has met the requirements of the committee in charge of deciding the members of the index. In this way, it complies with an increasingly demanding methodology that includes…

Companies, Ibex, Markets 21st August 2024

Iberdrola to invest €11m in renovating Onda electricity substation in Castellón

CdM | Iberdrola (IBE), through its distribution company i-DE, is to invest €11 million in the extension and renovation of the Corral del Cuervo transformer substation, located in Onda (Castellón). The remodelling of the substation will provide a greater number of 132 kilovolt (kV) line positions, which will make it possible to operate with greater flexibility in the distribution of energy in the area and improve adaptation to operating conditions,…

Companies, Ibex 19th August 2024

Mexican government secures $852m backing from pension funds to help finance Iberdrola asset purchase

Norbolsa| The Mexican government has obtained $852 million backing from Mexican pension funds to help finance the purchase of Iberdrola’s assets.

Companies, Ibex 7th August 2024

S&P, Fitch and Moody’s estimate Iberdrola’s €5 billion acquisition of 88% of ENW will improve earnings structure

Link Securities | The world’s major rating agencies have given the go-ahead to Iberdrola ‘s (IBE) biggest deal in recent years. Standard & Poors (S&P), Fitch and Moody’s estimate that the acquisition of 88% of British grid operator Electricity North West (ENW) for around €5 billion will improve the electricity company’s earnings structure, elEconomista reported on Tuesday. S&P expects ENW to contribute €500 million annually to IBE’s EBITDA (+3.5% versus…

Companies, Ibex 5th August 2024

Iberdrola buys 88% of British distributor ENW for €5 billion

Norbolsa | Iberdrola (IBE) announced that it had agreed to acquire an 88% stake in UK network operator ENWL for €5 billion (€2.5 billion equity value). The closing of the transaction is now subject to obtaining approval from the UK government within an initial three months and a review by the Competition and Markets Authority.

Companies, Ibex 2nd August 2024

Iberdrola, ICO, Sabadell and HSBC sign €500m syndicated green loan to finance wind, PV and battery projects in US and Australia

Link Securities | Iberdrola, ICO, Sabadell and HSBC have signed a syndicated green loan for an amount of €500 million that is covered by Cesce through its Green Investment Policy on behalf of the State, and which is guaranteed by the Internationalisation Risk Reserve Fund (FRRI), attached to the Ministry of Economy, Trade and Enterprise. The proceeds of the transaction will be used to finance renewable wind and photovoltaic projects,…

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