Bankinter | The Australian group Fortescue, listed on the Sydney Stock Exchange and with a market capitalisation of more than €30 billion, is negotiating with Iberdrola (IBE) the acquisition of 49% of a 1,000 MW solar and wind portfolio from Iberdrola. This portfolio is valued at least €900 million (including debt). Bankinter analysis team’s view: Good news and a transaction consistent with the group’s strategy. Iberdrola has been developing this…

Alphavalue/DIVACONS | The Spanish utility is exiting the Mexican market to finance its €55 billion investment plan through 2031, with a strategic focus on regulated network businesses in the United States and the United Kingdom. On Thursday after the close of trading, the group reached an agreement with Cox ABG for the sale of its 2.6 GW generation and supply portfolio in Mexico for $4.2 billion. The divestment of most…

Link Securities | Iberdrola (IBE) has announced an alliance with Irish group Echelon to launch a bid to conquer the data centre market in Spain, according to a report in Monday’s edition of Expansión newspaper. Echelon is owned by the Starwood Capital fund, known in Spain for its major forays into the real estate sector, where it has recently been involved in multimillion-pound deals. The newspaper notes that Iberdrola had…

Link Securities | Iberdrola (IBE) announced on Thursday that it has completed the acquisition of the energy distribution, marketing and generation business of Electra del Maestrazgo, a family-owned utility based in Castellón, according to the Bolsamania website. The statement also highlights that it expects a ‘positive impact on its accounts’ from this acquisition and anticipates that this will be reflected in its results. Iberdrola explained that the National Commission for…

Link Securities | On Wednesday, the electricity company signed a €2.5 billion credit facility with 32 international financial institutions, a transaction that was oversubscribed by 45%. The credit facility, which will have an initial term of five years, extendable for another two years, has multi-currency terms and has been secured at the most competitive cost of all the facilities currently available to the company. With the agreement signed, more than…