Spain $84 Billion Energy Giant Iberdrola Buys 88% of UK Electricity North West at $5.4 Billion Valuation
7th August 2024 | Hong Kong
Spain energy giant Iberdrola ($84 billion market value) has announced to buy 88% of UK Electricity North West at $5.4 billion valuation. Iberdrola (2/8/24):”Iberdrola has today signed an agreement to acquire 88% of Electricity North West (ENW) in the UK for an equity value of £2.1 billion (€2.5 billion). The deal values 100% of the company, including debt, at approximately €5 billion. This acquisition is consistent with Iberdrola’s strategy to invest in electricity networks and in countries with a strong credit rating, such as the United Kingdom (AA credit rating). Since the merger with ScottishPower in 2007, the UK has been one of the leading investment destinations for the company, where it has invested around £30 billion (€36 billion) in that time. ScottishPower is the only 100% green integrated utility in the UK. With the completion of the deal, the UK becomes Iberdrola’s leading market by regulated asset base, which is valued at approximately €14 billion, followed by the United States at €13.3 billion.”
“ Spain $84 Billion Energy Giant Iberdrola Buys 88% of UK Electricity North West at $5.4 Billion Valuation “
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Iberdrola – With more than 180 years of history, Iberdrola is today a global energy leader, the leading wind power producer and one of the largest electricity companies in the world in terms of stock market capitalisation.
Electricity North West – We are one of 14 distribution network operators in the UK regulated by Ofgem and the majority of electricity enters our network from the National Grid. We are responsible for maintaining and upgrading 13,000 km of overhead power lines and more than 44,000 km of underground electricity cables and much more. This covers the diverse communities between the beautiful Lake District landscapes to the bustling city of Manchester and all the wonderful towns and villages located in-between. Our network in the North West is one of the most reliable in the country and we are investing £1.7bn between 2023-28 to ensure we continue to deliver an excellent, safe and affordable service to all our customers.
Spain $84 Billion Energy Giant Iberdrola Buys 88% of UK Electricity North West at $5.4 Billion Valuation
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