New York regulators approve Iberdrola-Energy East merger: firm

0 Comments | AFP, September, 2008

MADRID (AFP) — New York regulators have approved a 3.4-billion-euro (4.9-billion-dollar) takeover by Spanish energy firm Iberdrola of US power group Energy East with conditions, Iberdrola said Thursday.

New York's Public Service Commission reached the decision on Wednesday but they have set a series of conditions which Iberdrola needs to analyse before deciding whether to proceed with the acquisition, the company said.

"When we have received the conditions, we will make an official evaluation and will decide if we accept or refuse them," an Iberdrola spokeswoman told AFP.

Regulators in Connecticut, Maine and Massachusetts, where Energey East also owns power companies, have already approved the takoevoer.

Iberdrola, the world leader in wind power,...