Iberdrola begins acquisition

BINGHAMTON -- Energy East has transferred 11 parcels in Broome County to Iberdrola for $24.2 million as part of its acquisition by the Spanish energy company.

Iberdrola's associated transfer tax payment -- $120,889 -- is the largest in recent history, county Clerk Richard R. Blythe said.

"I don't recall one larger," he said. "I mean, you're buying all of NYSEG."

The transfer is part of a larger, $208.8 million transaction including Energy East properties outside of Broome, Blythe said.

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