Iberdrola decides not to sell Scottish power unit

Following a better than expected fiscal year, Spain’s Iberdrola has decided against a plan to sell off nearly half of its Scottish Power segment.

According to reports, Iberdrola was considering selling as much as 49 percent of its business, but scrapped the idea after the company’s sales increased in 2012.

The business has both electricity distribution and high voltage transmission groups. The utility sold more than $1.1 billion in assets, nearly half of which was made by selling wind power projects in France.

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