Brookfield, Iberdrola consider bidding for PPL's U.K. unit
Brookfield, Iberdrola consider bidding for PPL's U.K. unit - Bloomberg
Sep. 9, 2020 2:21 PM ET|About: Brookfield Asset Management... (BAM)|By: Carl Surran, SA News Editor
Brookfield Asset Management (BAM +1.8%) and Spanish utility Iberdrola (OTCPK:IBDRY +1.7%) are among those weighing bids for PPL Corp.'s (PPL +0.6%) U.K. business, which could be valued at ~$15.6B, Bloomberg reports.
Australia's Macquarie Group, U.K.-based Dalmore Capital and Ontario Teachers Pension Plan also are considering offers for PPL's Western Power Distribution unit, according to the report, which also says PPL is reaching out to the U.K.'s National Grid (NGG +1.3%) and other utilities to gauge their interest.
Western Power Distribution provides electricity to more than 7.9M customers in the U.K. Midlands, the South West and Wales.
In a recent post on Seeking Alpha, Michael Wald offered a generally bullish view on PPL which included speculation about potential outcomes of PPL's attempted sale of U.K. operations.