Iberdrola sells shares in two regasification plants to RREF Infraestructure

2 July 2009

Iberdrola is to sell its shareholdings in the Sagunto and Bahia Bizkaia Gas regasification plants to RREF Infraestructure, an arm of Deutsche Bank Asset Management, as part of its asset divestment plan.

The company has closed the sale of 25 per cent of BBG and 30 per cent of Saggas valued at €200m, generating a gross capital gain or around €27m.

Iberdrola originally acquired its stake in Saggas in July 2002 and the plant has been in commercial operation since April 2006. The company’s stake in the BBG plant dates back to 1998.

Iberdrola’s plan projects €2.5m in divestments this year as part of its goal to maintain balance sheet strength and improve its capital structure.

Copyright © 2009 NewNet

Tags: energy efficiency

This story was published on Thursday, July 2nd, 2009 at 1:56 pm and is filed under Europe, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply