(ADPnews) - Nov 25, 2010 - Spanish power utility Iberdrola (MCE:IBE) has invested EUR 771,000 (USD 1.03m) more in wind energy company Gamesa (MCE:GAM) acquiring a new stake of 150,000 shares, news portal Invertia said today.
Iberdrola keeps increasing its interest in the green energy firm under its policy to strengthen its presence in Gamesa. Iberdrola's current stake in the wind energy company is 16.571%.
The stake was acquired at an average price of EUR 5.14 apiece.
Iberdrola said on October 20 it was likely to continue acquiring shares in Gamesa. The utility, however, does not plan to exceed the 30% threshold in Gamesa.
Gamesa traded today at EUR 5.176, up 2.5%, at 1235 CET on the Madrid stock exchange.
(EUR 1.0 = USD 1.330)