Britain’s Drax Group says in talks to buy power assets from Iberdrola

Industry:    2018-09-24

Britain’s Drax group (DRX.L) said on Saturday it was in discussions with Spain’s Iberdrola (IBE.MC) about the potential acquisition of a UK portfolio of pumped storage, renewable hydro and gas-fired generation assets.

“The discussions are preliminary in nature and there can be no certainty of any agreement or the timing or terms of any such agreement,” Drax said in a statement.

“Any potential acquisition would be fully debt funded and subject to shareholder approval.”

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