Qatar Holding to Buy 6.16 Percent of Iberdrola
Spanish power group Iberdrola Monday announced investment fund Qatar Holding will take a 6.16 percent stake in its share capital.
Iberdrola's capital will increase by 253.76 million Euros ($353.49 million) which "will allow the subscription by Qatar Holding of a participation" of 5.81 percent by buying Iberdrola's shares for 5.633 Euros percent each, below the price of 5.961 Euros at Friday's close.
Iberdrola will also sell 0.35 percent of its existing stock to Qatar Holding, for 114.9 million Euros.
Trading in Iberdrola and its renewable energy subsidiary Iberdrola Renovables were suspended on the Madrid stock market ahead of the announcement.