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| Iberdrola Renovables assumes control of Rokas Group  Iberdrola Renovables now owns 100% of Rokas Group, having completed the squeeze-out process. Furthermore, the General Shareholders' Meeting of Rokas, the largest operator in Greece's wind energy market, has approved the delisting from the Athens Stock Exchange of the ordinary and preference shares representing the company's entire share capital. The transaction has in turn been authorised by the CMC, the Greek stock exchange regulator. This marks the culmination of the acquisition of the 52.7% of ordinary shares and 47.3% of preference shares of Rokas Group that Iberdrola Renovables did not control, valued at around €175 million in cash. The transaction underlines the commitment of the renewables arm of the Iberdrola Group to the Greek market, where it has been present since December 2004 when it acquired 21% of the ordinary share capital of Rokas. Since then the company has continued to increase its stake in the leading operator in the Greek wind power market, completing the acquisition of 100% following the voluntary takeover bid made last year.write your comments about the article :: © 2009 Construction News :: home page |