Iberdrola Acquires Remaining 18.4% of Avangrid for $2.6 Billion
May 20, 2024
Avangrid has entered into a definitive agreement with Iberdrola under which Iberdrola will acquire the remaining 18.4% of Avangrid shares it does not currently own for $35.75 per share in an all-cash transaction. The merger will make Avangrid a wholly owned subsidiary of Iberdrola, with closing expected in the fourth quarter 2024 subject to customary conditions and regulatory approvals.
- Buyers
- Iberdrola, S.A., Arizona Merger Sub, Inc.
- Targets
- Avangrid, Inc.
- Industry
- Energy
- Location
- Connecticut, United States
- Transaction Type
- Buyout
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