June 20, 2021

Iberdrola adds Qatar to its North American subsidiary Avangrid




The Iberdrola group will enter the shareholding of its North American subsidiary Avangrid to the state fund Qatar Investment Authority (QIA) through a capital increase. After this operation, Iberdrola will keep 81.5% of Avangrid and Qatar 3.7%. It should be remembered that this fund owns 8.7% of Iberdrola.

Avangrid will issue a total of $ 4 billion in common shares in a private placement transaction at $ 51.40 per share, the closing price on May 11, 2021. Iberdrola will subscribe $ 3.26 billion in proportion to its current stake of 81.5% in the company and the Qatar Investment Authority (QIA) will subscribe the remaining 740 million dollars, acquiring approximately 3.7% of the ordinary shares of Avangrid, as Iberdrola explained today.

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