Business

Qatar buys ScotPower stake

11 April 2012

Spanish utility Iberdrola which owns Scottish Power today received a �2 billion (£1.7billion) capital injection from Qatar. The issue of new shares will give the Middle Eastern country a 6.2% stake.

The deal will enable Iberdrola to finance two takeovers including Brazil's Elektor Electricidade e Servicios and leave it head room for other deals. Iberdrola is also opening a new Middle East headquarters in Qatar to exploit opportunities in the region's electricity industry.

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