Iberdrola buys out Greek Rokas Group

Mar 18, 2009 01:00 AM

Spain-based Iberdrola Renovables announced it has wholly acquired Greece-based Rokas Group.
The transaction was authorized by the Capital Market Commission, the Greek stock exchange regulator.

Iberdrola now holds the 52.7 % of Rokas' ordinary shares and 47.3 % of preference shares it did not hold before. The shares in total are valued at $ 229 mm (EUR 176.5 mm).
Iberdrola Renovables is a renewable-energy company, and Rokas is a wind-energy company.

Iberdrola bought the company to consolidate its Greek wind-power assets.
Through the acquisition, Iberdrola now holds 217 MW of wind power in Greece.

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