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Investment Increased

The Valencian Savings bank Bancaja yesterday increased its shareholding in electricity company Iberdrola by investing 280 million Euros to buy just over a 1% share in the company, increasing its stake to 2.02%. In this way, Bancaja will also become involved in the Scottish Power, which recently agreed to a fusion with Iberdrola. With this new investment, the Valencian Bank has spent 900 million Euros on shares of the electricity company, and a spokesman for Iberdrola stated that the company viewed ‘very positively’ the additional investment by Bancaja.

 


Author: Valencia Life
Created: 2007-03-28 11:15:38 | Updated: 2007-03-29 09:37:21

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