Iberdrola To Sell €2B Stake To Qatar Fund

Law360, New York (March 14, 2011, 6:26 PM EDT) -- Spanish energy giant Iberdrola SA has agreed to sell a 6 percent stake to Qatar Holding LLC for more than €2 billion ($2.8 billion) in a bid to boost its finances, the company said Monday.

Under the terms of the memorandum of understanding, Iberdrola, the world’s largest wind power utility, will work together with Qatar Holding in a long-term strategic partnership focusing on fast-growing, emerging markets.

Iberdrola further said it would set up its regional headquarters and a research and development facility in Qatar.

In exchange,...
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