15.03.2011 - Qatar's sovereign fund buys over 6 percent of Spanish power utility Iberdrola
From Scotsman.com: Qatar is to buy a 6.16 per cent stake in ScottishPower-owner Iberdrola for 2.2 billion (1.9bn), helping the Spanish utility giant to finance its Brazilian operations and further diluting unwanted suitor ACS. Iberdrola, which is saddled with 24bn of debt, will issue and sell 338 million shares at 5.63 each to Qatar Holding, the state's sovereign wealth fund. Spanish builder ACS holds about 20 per cent of Iberdrola and plans to purchase more shares in its drive to win a seat on the utility's board, which it is also fighting for in the courts..............................................Full Article: Source
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