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New Deal


Announced

Iberdrola to acquire the remaining 18.4% stake in Avangrid for $2.48bn.

Financials

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Transaction Value£1,929m
Consideration TypeCash
Capital Owned82%
Capital Bid For18%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Electricity Distribution

energy services

power

electricity distribution

United States

Acquisition

Majority

Private

Cross Border

Pending

Friendly

Single Bidder

Synopsis

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Iberdrola, a Spanish multinational electric utility company, offered to acquire the remaining 18.4% stake in Avangrid, an energy services and delivery company, for $2.48bn. The objective of this transaction is to increase exposure to the networks business in the United States at a key time for Iberdrola, which wants to grow in markets with high credit ratings and in regulated businesses such as networks.

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