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chief is best
drola’s
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GLOB
dr
AL VIEW:
in business
Ignacio Galán
ola chairman
CHAIRMAN and CEO of
Iberdrola, Ignacio Galán, has
been named best CEO in the
European utilities sector for the
f
Institutional Investor magazine.
ifth consecutive year by
survey of buy-side and sell-side
analysts and is the latest honour
The award is based on a
for Galán who won
E
Platts Global Energy
December and three best CEO
xecutive of the Year in the
Top
awards in investor relations
Awards last
magazine, IR Magazine.
Iberdrolaʼ
stock-market performance
And his award coincides with
following its friendly takeover of
s recent excellent
ScottishPower with market
capitalisation currently close to
51 billion euros, an accumulative
share price appreciation of 32.7
per cent so far this year and a
total shareholder return of 34
per cent since January.
IBERDROLA chairman and CEO
Iberdrola builds upon Atlantic platform
Log on for
Ignacio Galán told world energy
leaders in June the Group will
INSIDE: Leaflet
with friendly takeover of US energy firm
“continue to expand globally”.
2006 r
Leaders Summit, organised by the
States represents an important opportu
Financial
Speaking at the Global Energy
nity for growth, and the acquisition of
successful completion of the Scottish-
Energy East is a step forward in our
-
Power operation meant the Group
Times, Galán said the
strategy of building an Atlantic platform.
SCOTTISHPOWER’
eport
would build on an
Responsibiity Report has
“where their presence and opportunities
been published online for a
s Corporate
for growth are more significant”.
Atlantic platform,
ers, improving Group results, dividend
strengthen its commitment to sharehold
“This acquisition will allow Iberdrola to
and profitability.
-
came news that US utility company
ScottishPower News, you will
second year
Energy East is to be part of our
One week after that announcement
receipt of the necessary authorisations,
and is expected to be complete in 2008.
consolidates our position as one of the
find a leaflet outlining our
Inside this issue of
.
worldʼ
Galán said: “The transaction
customers, through improved quality of
expanding group.
supply
“It will also enhance its commitment to
performance during 2006-07.
reached a friendly agreement to acquire
merger with Iberdrola and while
100 per cent of Energy East.
It has been revealed that Iberdrola has
largest electricity operators with an enter
sustainable development, thanks to our
prise value of around 83 billion euros.
Iberdrola will become one of the worldʼ
s leading electricity companies.”
s
world leadership in renewable energy and
, and to society, contributing to
this report covers the period
This is our first report since the
immediately prior to merger
generation and retail business of five US
It will also increase its distributed ener-
-
to increased investments devoted to
demonstrates an approach to
states – New
Energy East operates in the distribution,
gy volumes by 25 per cent, its customer
responsible business that is
, it
Maine, New Hampshire and Connecticut.
base rising to more than 27 million. Gen
erating capacity will be enhanced to near
record of working with local communities
reducing emissions.”
aligned to the Iberdrola Group.
ly 42,000 MW. Galán said: “The United
-
-
to address their energy needs and reach
He added: “Iberdrola has a strong
renewable targets.
“We welcome Energy Eastʼ
feedback on any matters raised
and assume Energy
Iberdrola will pay 3.4 billion euros in
York, Massachusetts,
cash ($28.5 per share)
3.4 BILLION EURO SHARE ISSUE SHOWS GROUP
ON
CONFIDENCE
and look forward to
s employees
Eastʼ
euros.
is subject to approval
s debt of 3 billion
acquisition through the issuing of 85 million new shares, which represents
leveraging our combined
in the report.
The CR team would welcome
by Energy Eastʼ
The transaction
approximately 7 per cent of existing capital.
June 27, close to 3.4 billion euros was raised in a matter of hours for this
experience to help to
shareholders and to
s
of confidence the Spanish and international institutional investors have in the
address some of the
www
Iberdrola board, management team and leadership of the chairman.
This demonstrates the high level
most challenging energy
corporateresponsibility
Contact us at
.scottishpower.com/
.asp
and environmental
issues in the US.”
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