Iberdrola Reaps $531M In Wind Farm Sale To GE-Led Group

Law360, New York (January 2, 2013, 1:11 PM EST) -- Spanish utility Iberdrola SA will sell more than 320 megawatts of onshore wind power assets to a consortium led by a General Electric Co. unit, netting the company up to €400 million ($530.5 million) as part of its plan to shed noncore holdings, Iberdrola said Monday.

Under the deal's terms, General Electric will take a 40 percent stake in the wind farm portfolio, which holds 32 sites spread across France. German asset manager MEAG would also swallow up a 40 percent stake, with French renewables company...
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