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.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
