UBS has lifted its equity capital markets profile in Spain with its second deal from the country in two weeks as it led a €90m ($103m) block trade in Gamesa, the wind farm developer.

Last month UBS was one of four banks which led the sale of a €417m stake in Red Electrica, the Spanish electricity firm. Four Spanish utilities - Endesa, Hidrocantabrico, Iberdrola and Union Fenosa - each had a 10% stake in Red Electrica, and under new government regulations had to reduce their stakes to 3% each. The deal was meant to be a marketed offer but was changed to an accelerated sale due to the demand from investors during premarketing.