Announced
Financials
Sources
Tags
Electricity Distribution
energy services
power
electricity distribution
United States
Acquisition
Majority
Private
Cross Border
Pending
Friendly
Single Bidder
Synopsis
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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