Insight
Iberdrola ramps-up networks business through ENW acquisition
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Iberdrola has agreed to acquire an 85.6% stake in Electricity North West (ENW), a UK power networks operator, for £1.7 billion (c.US$2.2 billion) in cash. Iberdrola will inject a further £400 million (US$513 million) after transaction close and increase its holding to 88%. Iberdrola has meaningfully bolstered its power networks business through this deal. The agreed purchase of ENW is a significant acquisition that has created the number two power networks operator in the UK behind National Grid, based on Regulated Asset Value (RAV). The acquisition is entirely in line with Iberdrola’s growth strategy and will deliver a meaningful uplift to its regulated asset base.
Table of contents
- Executive Summary
- ENW is a clear strategic fit
- The acquisition was in the UK
- Deal valuation appears reasonable
- Operational and financial synergies offer potential upside
- Are further acquisitions on the cards?
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Asset Report
Lochaber aluminium smelter
A detailed analysis of the Lochaber aluminium smelter.
$2,250
Insight
The impact of 50% tariffs on US steel
US 50% steel tariffs redraw trade flows. We assess the impact on demand, production, and top exporters. No partner is immune.
$1,050
Asset Report
El Pilar SxEw copper mine project
A detailed analysis of the El Pilar SxEw copper mine project.
$2,250
