The board of Scottish Power, a major British energy supplier, has backed an EUR 17.2 bn bid from Spain's Iberdrola in a move that would create Europe's third-largesst utility group. In the event the deal goes ahead, it will trigger a payout of up to EUR 6 mln for Scottish Power's ceo Philip Bowman who will consequently step down, the Guardian newspaper said.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
