Iberdrola divests stakes in Siemens Gamesa
Spanish power utility Iberdrola SA has divested its 8.07% stakes in the wind turbine maker Siemens Gamesa Renewable Energy to Siemens AG for a total consideration of EUR1.1 billion (US$1.2 billion).
The sale is launched by Iberdrola Participaciones SA, a wholly-owned unit of Iberdrola.
The sale resulted in the termination of their 2016 shareholder agreement without any claims from either side. Both companies have agreed no to purchase any financial instruments, shares included, that are issued by their respective groups for the next 24 months.
Country updates
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