BILBAO (dpa-AFX) - Iberdrola, S.A ([IBDSF.PK), an electric utility company, Tuesday said that it has closed the sale of 55 percent of its business in Mexico for around $6.2 billion.
The sale includes 13 generation plants with an installed capacity of 8,539 MW. It also includes the private combined cycle gas plants of Monterrey III and IV Tamazunchale II and Enertek.
The 460 employees working at these facilities will become a part of the trust led and managed by Mexico Infrastructure Partners or MIP. The company will continue to retain 15 plants, all of its private customers and its portfolio of renewable energy projects.
As part of the agreement, the company has signed power purchase agreements with the trust that is led and managed by MIP, including a contract for the provision of transitional services for the temporary management of the assets sold.
On Monday, Iberdrola shares closed at $11.40, down 0.23%.
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