The acquisition will shift focus towards Avangrid/Iberdrola’s US transmission networks business. Image: Iberdrola
Spanish energy utility Iberdrola has taken full ownership of its US subsidiary Avangrid for a total of US$2.551 billion.
Iberdrola acquired the 18.4% minority stake that it did not already hold in Avangrid for US$35.75 per share, according to its filing with the Spanish National Securities Market Commission (CNMV). Following the closure of the transaction, Iberdrola will request that shares in Avangrid be delisted from the New York Stock Exchange.
(The above content is reproduced from pv-tech，By Will Norman）
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