ACS Reduces Iberdrola Stake

摘要

Spanish construction group ACS reduced its holding in Iberdrola to 14.85%, after selling off a 3.69% stake for ?800 million ($1.05 billion) on the stock market on Wednesday morning at a price of ?3.62 per share. Proceeds will be used to pay down ACS debt, the construction firm said. ACS noted that it may sell other noncore assets, but is still Iberdrola's largest shareholder and would remain a "stable long-term partner."