Brief: Iberdrola Reaches Agreement In Principle To Buy All Ordinary Shares Of Avangrid Not Already Owned

Avangrid

17/05/2024 16:14

May 17 (Reuters) - Iberdrola SA  IBE.MC :
    * REACHES AGREEMENT IN PRINCIPLE  TO BUY ALL OF ORDINARY
SHARES OF
AVANGRID NOT ALREADY OWNED
    * ACQUISITION FOR PRICE OF 35.75 US DOLLARS PER SHARE,
REPRESENTING TOTAL AMOUNT OF ABOUT 2,551 MILLION US DOLLARS
    * AGREEMENT HAS BEEN REACHED IN PRINCIPLE FOR ACQUISITION OF
ALL
OF ORDINARY SHARES OF AVANGRID NOT ALREADY OWNED BY IBERDROLA
    * THIS IS EQUIVALENT APPROXIMATELY TO 2,348 MILLION EUROS,
APPLYING EUR/USD EXCHANGE RATE OF 1.0866
    * INFORMS THAT AGREEMENT BINDING FOR BOTH PARTIES IN
RELATION TO
TRANSACTION HAS NOT BEEN REACHED YET

Source text for Eikon:  ID:nCNMbKbGFS 
Further company coverage:  IBE.MC 

 (Gdansk Newsroom)
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