Iberdrola acquires remaining 18.4% of US subsidiary Avangrid for $2.551bn, reaching 100% ownership.
Iberdrola has signed a deal to acquire the remaining 18.4% stake in US subsidiary Avangrid for $2.551bn ($35.75 per share), increasing its shareholding to 100%. The acquisition, subject to shareholder approval and regulatory clearance, aims to enhance Iberdrola's involvement in the US networks business. Avangrid operates in 24 US states, with $44bn in assets and eight electric and natural gas companies, serving over 3.3 million customers in New York and New England.
May 19, 2024
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