Spain's Iberdola buys 3.5% of Repsol

Article Abstract:

Grupo Iberdola has acquired a minority share of 3.5% in Repsol SA for 83.6 billion pesetas (502.4 million euros). Since 1997, both Iberdola and Repsol have had a strategic alliance. However, the deal represents the first time that either group acquired a share in the other. The move had been expected for months to take place. Especially since Endesa SA's acquisition of 3.64% in Repsol in January 1999.

Comment:

Grupo Iberdola acquires 3.5% of Repsol SA for 83.6 billion pesetas (502.4 million euros)

Asset sales & divestitures, Acquisitions & mergers, Petroleum, Petroleum and Coal Products Manufacturing, Mergers, acquisitions and divestments, Petroleum industry, Abstract, Repsol YPF S.A. (Madrid, Spain), Grupo Iberdrola S.A.

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Spain emerges as m & a powerhouse

Article Abstract:

Corporate Spain is pushing into emerging markets in Europe and internationally. The corporate drive is coming from a ten year powerhouse economy and historical success in Latin America.

Europe, Economic aspects, Acquisitions and mergers, Industry overview

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