Iberdrola completed the acquisition of an 88% stake in Electricity North West from Equitix for €5bn.

Iberdrola, a Spanish multinational electric utility company, completed the acquisition of an 88% stake in Electricity North West, a British electricity distribution network operator, from Equitix, a private equity firm, for €5bn ($5.4bn). "This transaction reinforces our commitment to investing significantly in electricity networks, which are a critical component for supporting the electrification and decarbonization of the economy. The agreement is also consistent with our strategy to invest in countries that have ambitious investment plans and stable and predictable regulations. As a result of this acquisition, our regulated networks asset base in the UK is now valued at €14bn ($15.1bn). When combined with the US, these two markets now represent two-thirds of our total global regulated asset base," Ignacio Galán, Iberdrola Chairman.