Unlisted Spanish savings bank BBK has invested EUR 80 mln in the Torre Iberdrola tower project which is being developed in Bilbao by Spanish power company Iberdrola. The bank is acquiring a stake in the project from Iberdrola's former development partner, Promotora Vizcaína (PV), which struggled to find the much-needed cash resources for the development. The bank is taking a 33% stake in the skyscraper, with Iberdrola retaining its 66% interest.
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