Spanish Iberdrola has acquired all issued ordinary shares of ScottishPower with approximately 52.3% in exchange for cash or loan notes and the remaining 47.7% in shares.
Ignacio Galán, chairman and chief executive of Iberdrola, expressed his satisfaction at the closing of the transaction, which “marks the birth of one of the largest electricity companies in the world, a leader in renewables with an enterprise value of more than €65 billion.”
The merged company has a combined installed capacity of around 40 GW, of which some 16,500 MW comes from renewables including large hydro, and some 21.7 million customers in Europe and the Americas.
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