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| Iberdrola to sell stakes in regasification plants Spanish energy giant Iberdrola has agreed to sell its shareholdings in the Sagunto (Saggas) and Bahia Bizkaia Gas (BBG) regasification plants to RREF Infraestructure, in line with the Group's asset divestment plan. The transaction is subject to the relevant regulatory aauthorizations and other third party approvals. Specifically, the company has closed the sale of 25% of BBG and 30% of Saggas valued at €200 million, including debt, generating a gross capital gain of approximately €27 million. In the case of Saggas, the transaction has been implemented via the sale of 60% of Iniciativas de Gas, a company that owns 50% of the plant and in which Endesa had a 40% stake. write your comments about the article :: © 2009 Construction News :: home page |