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Gamesa's divestment to shareholder Iberdrola held up by fair trade investigation

Gamesa's agreement to sell 982 MW of wind plant to its 18.89% shareholder, utility Iberdrola (Windpower Monthly, November 2002), is being examined by the economy ministry's fair trade department, Servicio de Defensa de la Competencia (SDC). Sources close to the deal say the investigation is standard procedure for such a large transaction. If the SDC finds anomalies in the deal the case will be handed to the specialist fair trade court, Tribunal de Defensa de la Competencia. It seems the SDC has at least held up the deal. In mid-December neither Gamesa nor Iberdrola could confirm they could go ahead and hand over the first 666 MW, scheduled before the end of 2002.

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