Iberdrola Acquires 88% Stake in Electricity North West for £2.1 Billion as Foreign Investments in UK Power Sector Rise

Freshfields Bruckhaus Deringer is representing its longstanding client, the U.K. power grid operator Electricity North West, in a significant transaction involving the Spanish utility Iberdrola. The Spanish firm is set to acquire an 88% stake in Electricity North West for approximately £2.1 billion from shareholders Equitix, KDM Power, and China-backed CNIC (read more). This acquisition is yet another instance of a foreign entity purchasing an established U.K. business.