Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Iberdrola secures 98.25% stake in Australian Infigen

Published 10/21/2020, 10:09 PM
Updated 10/21/2020, 10:10 PM

Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on
Wednesday it had secured a 98.25% stake in Australian wind and
solar firm Infigen IFN.AX share capital through a public
takeover offer.
The announcement brings to an end the months-long bidding
war for the control of the Australian firm.
Philippine conglomerate Ayala AC.PS was the first bidder
for the renewable energy company back at the beginning of June
in an offer that valued the company at about A$777 million
($551.98 million).
Iberdrola replied and eventually offered A$893 million for
Infigen. Infigen's independent directors had urged minority investors
to accept Iberdrola's takeover offer a few days after the
company had reported a steep profit decline and suspended
dividends indefinitely. = 1.4077 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.