BILBAO (dpa-AFX) - Iberdrola, S.A. (IBDSF.PK), Friday announced that the company has agreed to buy 88 percent of Electricity North West in the U.K. for 2.5 billion euros, valuing the company at around 5 billion euros.
Through this acquisition, Iberdrola expects to expand its electricity networks business, employing over 8,500 workers in the country.
Currently, Iberdrola's stock is trading at $13.19, down 0.83 percent on the OTC Markets.
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