IBERDROLA SELLS ITS 22 6% STAKE IN ITAPEBI TO BRAZILIAN HOLDING COMPANY NEOENERGIA FOR €99 MILLION
As part of its asset divestment plan for the 2012-2014 period
- Itapebi Geraçao de Energia, S.A. owns the 462-MW Itapebí hydroelectric power plant, located in the Brazilian state of Bahia
Under an agreement signed yesterday, IBERDROLA has sold to Brazilian holding company Neoenergia (in which it retains a 39% stake), its 22.6% indirect stake in Itapebi Geraçao de Energia, S.A. for approximately €99 million.
Itapebi Geraçao de Energia, S.A. owns the 462-MW Itapebi hydroelectric power plant, located in the Brazilian state of Bahia. The power plant was commissioned in 2003 and has an operating concession until 2034.
The transaction is part of IBERDROLA´s €2 billion asset divestment plan for the 2012-2014 period, which aims to further reinforce the Group's financial strength.
In this regard, the Company announced on Monday the sale of a stake of approximately 4.6% of EDP - Energias de Portugal, S.A.. Yesterday it also announced it had awarded a mandate to UBS Ltd to sell an additional stake of nearly 2% in the company.
At the end of 2013, IBERDROLA also announced the sale of its 50% stake in NNB Development Company S.A. to Toshiba Corporation for more than €100 million. NNB Development owns 100% of NuGeneration Limited, the company which is developing the Moorside project in West Cumbria (England) where it plans to build a 3.6 gigawatts nuclear power station.
In 2013, IBERDROLA also sold all of its wind assets in Poland to Energa Hydro and PGE Polska Grupa Energetyczna for €203 million and its 55% stake in Empresa Eléctrica Licán to ICL for USD 55 million, among other divestments.
This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of Iberdrola, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.