Britain's Drax Group says in talks to buy power assets from Iberdrola
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FILE PHOTO: The logo of Spanish utility company Iberdrola is seen outside its headquarters in Madrid, Spain, May 23, 2018. REUTERS/Sergio Perez
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SERGIO PEREZ(Reuters)
LONDON (Reuters) – Britain’s Drax group <DRX.L> said on Saturday it was in discussions with Spain’s Iberdrola <IBE.MC> about the potential acquisition of a UK portfolio of pumped storage, renewable hydro and gas-fired generation assets.
“The discussions are preliminary in nature and there can be no certainty of any agreement or the timing or terms of any such agreement,” Drax said in a statement.
“Any potential acquisition would be fully debt funded and subject to shareholder approval.”
(Reporting by Alistair Smout; Editing by Bill Trott)
