Reported about 9 hours ago
Iberdrola has agreed to sell its UK smart metering division, SP Smart Meter Assets (SPSMAL), to Macquarie for approximately £900 million, pending approval from the UK’s competition authority. SPSMAL manages 2.7 million meters across the UK, while Macquarie oversees over ten million. This sale aligns with Iberdrola's strategy to rotate non-core assets and is part of its broader plan for divestments exceeding €10 billion. The transaction is slated to finalize in Q3 2025.
Source: YAHOO