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LONDON - The Competition and Markets Authority (CMA) has cleared Iberdrola (OTC:IBDRY), S.A.’s acquisition of an 88% stake in North West Electricity Networks (Jersey) Limited (NWEN J), as informed by ENW Finance plc. The transaction, which took place on October 22, 2024, was subject to regulatory review, concluding with the CMA’s approval.
Iberdrola, through its subsidiary Scottish Power Energy Networks Holdings Limited, now holds a significant share of NWEN J, which indirectly owns the entirety of ENW Finance plc. This development marks a notable change in ownership for the company, which is a key player in the electricity network sector.
The CMA’s decision to clear the acquisition indicates compliance with the competition laws, ensuring that the transaction does not raise any concerns regarding competition within the industry.
ENW Finance plc has disseminated this information following the protocols for market communications, emphasizing that the announcement is not an offer of securities for sale in any jurisdiction and does not constitute a prospectus or equivalent document.
The news of the acquisition’s clearance is expected to be of interest to investors and industry observers, as it involves significant entities within the electricity networks market.
For further inquiries, Electricity North West’s press office has provided contact information but has not released further details on the implications of the acquisition. It is based on a press release statement, and the distribution of this information may be subject to legal restrictions in certain jurisdictions.
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