Clifford Chance
Clifford Chance advises Iberdrola on US$2.55 billion acquisition of remaining shares of Avangrid to wholly own the majority-owned subsidiary
May 20, 2024
Clifford Chance advises Iberdrola on US$2.55 billion acquisition of remaining shares of Avangrid to wholly own the majority-owned subsidiary
New York: Global law firm Clifford Chance advised Iberdrola, S.A. in its agreement to acquire the remaining 18.4% of the outstanding shares of common stock of Avangrid, Inc (NYSE: AGR), a leading sustainable energy company. The transaction valued at US$2.55 billion will result in Avangrid becoming a wholly owned subsidiary of Iberdrola.
Partner Chang-Do Gong, who is the Co-Head of the firm's US M&A practice, led the transaction.
Gong said, "It was a privileged to have the opportunity to lead this complex transaction, and I look forward to continuing to advise Iberdrola to help bring the transaction to a successful closing."
