Spanish renewable energy company Iberdrola Renovables raised its stake in Greek subsidiary Rokas as part of a bid to fully acquire the firm, Rokas said yesterday.
“Iberdrola acquired 30,654 ordinary shares and 900 preferred shares of Rokas on the Athens bourse on July 15,” Rokas said in a stock market filing.
It said Renovables now owns 67.95 percent of Rokas’s common shares and 52.66 percent of its preferred shares.
Earlier in July, Renovables made a 175-million-euro bid to fully acquire Rokas for 16 euros a share. It said Greece was one of the Spanish firm’s key markets. Rokas owns 30 percent of Greece’s total installed capacity but only 3.6 percent of the country’s electricity currently comes from wind.
(KATHIMERINI, 17/07/2008)