Macquarie to acquire the UK smart meters business from Iberdrola for £900m.

Macquarie, a global financial services group, agreed to acquire the UK smart meters business from Iberdrola, an electric utility company, for £900m. “Having played an active role in the roll out of more than 7.5m smart meters to British households and businesses, this transaction provides an opportunity for us to add further scale and continue to drive progress towards UK government targets and bring benefits to British electricity and gas consumers. We are pleased to be taking ownership of a business with a track record of strong performance under the management of Scottish Power and look forward to supporting its further growth," Julian Liddy, Macquarie Senior Managing Director, Specialised and Asset Finance.