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Development Bank Trust Fonadin To Take 51% In Iberdrola

MEXICO
  • According to Finance Minister Ramirez De La O, Mexico's national infrastructure trust fund, Fonadin, will take 51% stake in Iberdrola deal.
  • Fonadin will receive a 45 billion peso ($2.5 billion) contribution from the Finance Ministry to purchase a 51% stake in the deal to buy power plants from Spain’s Iberdrola SA.
  • In addition to the majority stake, Fonadin will oversee a special purpose vehicle that will execute the operation, Ramirez de la O said at a press briefing Wednesday. (BBG)

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