Avangrid, Inc. (NYSE: AGR) (“Avangrid” or the “Company”) today
announced that its shareholders voted to adopt the Agreement and
Plan of Merger (the “Merger Agreement”), whereby Iberdrola, S.A.
(“Iberdrola”) will acquire the remaining 18.4% of the issued and
outstanding stock of Avangrid that it does not currently own.
According to the preliminary results announced at Avangrid’s Annual
Meeting of Shareholders, a majority of Avangrid’s shareholders
voted in favor of the Merger Agreement.
“Today’s approval by shareholders is an important step in the
merger process. We are excited about Iberdrola’s continued
investment in Avangrid and commitment to the United States. As a
wholly-owned member of the Iberdrola Group, we will continue to
serve our customers and build our renewable energy assets work to
achieve our vision to lead the clean energy transition with a
strong commitment to sustainability, community, governance, and our
employees,” said Pedro Azagra, Chief Executive Officer of
Avangrid.
In addition to approving the Merger Agreement, at the annual
meeting, the Avangrid shareholders voted to elect each of the 14
nominees to the Board of Directors to serve one-year terms expiring
at Avangrid’s 2025 annual meeting. Additionally, the Avangrid
shareholders voted to ratify the appointment of Avangrid’s
independent public accounting firm and approve on an advisory basis
the compensation of Avangrid’s named executive officers.
On September 17, the Maine Public Utilities Commission voted to
approve the merger transaction subject to a final written order.
This follows the approval by the Federal Energy Regulatory
Commission and the recent favorable recommendation regarding the
merger from two leading independent proxy firms. The merger is now
subject to the satisfaction and approval of the New York Public
Service Commission and once obtained, the transaction is expected
to close during the fourth quarter of 2024. Upon closing the
transaction, Avangrid’s common stock will no longer be listed on
the NYSE and Avangrid will operate as a privately-held company.
The final voting results of the Annual Meeting, as tabulated by
an independent inspector of elections, will be available on a
current report on Form 8-K that will be filed with the U.S.
Securities and Exchange Commission and posted on Avangrid’s
website, www.avangrid.com.
About Avangrid
Avangrid (NYSE: AGR) aspires to be the leading sustainable
energy company in the United States. Headquartered in Orange, CT
with approximately $46 billion in assets and operations in 24 U.S.
states, Avangrid has two primary lines of business: networks and
renewables. Through its networks business, Avangrid owns and
operates eight electric and natural gas utilities, serving more
than 3.3 million customers in New York and New England. Through its
renewables business, Avangrid owns and operates a portfolio of
renewable energy generation facilities across the United States.
Avangrid employs approximately 8,000 people and was recognized by
JUST Capital as one of the JUST 100 companies – a ranking of
America’s best corporate citizens - in 2024 for the fourth
consecutive year. In 2024, Avangrid ranked first within the utility
sector for its commitment to the environment. The company supports
the U.N.’s Sustainable Development Goals and was named among the
World’s Most Ethical Companies in 2024 for the sixth consecutive
year by the Ethisphere Institute. Avangrid is a member of the group
of companies controlled by Iberdrola. For more information, visit
https://www.avangrid.com.
About Iberdrola
Iberdrola, Europe’s largest electricity utility by market
capitalization and one of the world’s top three electricity
companies, is a leader in renewables, spearheading the energy
transition to a low carbon economy. The group supplies energy to
almost 100 million people in dozens of countries. With a focus on
renewable energy, smart networks and smart solutions for customers,
Iberdrola’s main markets include Europe (Spain, the United Kingdom,
Portugal, France, Germany, Italy and Greece), the United States,
Brazil, Mexico and Australia.
The company has a workforce of over 42,200 and assets in excess
of €150 billion. In 2023, Iberdrola posted revenues of nearly €50
billion, net profit of €4.8 billion, with nearly €9.3 billion paid
in tax contributions in the countries where it operates. The
company helps to support more than 500,000 jobs in communities
across its supply chain, and global supplier purchases topped €18.1
billion in 2023. A benchmark in the fight against climate change,
Iberdrola has invested more than €150 billion over the past two
decades to help build a sustainable energy model, based on sound
environmental, social and governance (ESG) principles.
Forward-Looking Statements
Certain statements in this report may relate to our future
business and financial performance and future events or
developments involving us and our subsidiaries that are not purely
historical and may constitute “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements may be identified by the use of
forward-looking terms such as “may,” “will,” “should,” “would,”
“could,” “can,” “expect(s),” “believe(s),” “anticipate(s),”
“intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),”
“guide(s),” “target(s),” “forecast(s),” “are (is) confident that”
and “seek(s)” or the negative of such terms or other variations on
such terms or comparable terminology. These forward-looking
statements generally include statements regarding the potential
transaction between Avangrid and Iberdrola, including any
statements regarding the expected timetable for completing the
potential transaction, the ability to complete the potential
transaction, the expected benefits of the potential transaction,
projected financial information, future opportunities, and any
other statements regarding Avangrid’s future expectations, beliefs,
plans, objectives, results of operations, financial condition and
cash flows, or future events or performance. Readers are cautioned
that all forward-looking statements are based upon current
reasonable beliefs, expectations and assumptions. Avangrid’s
business, financial condition, cash flow, and operating results are
influenced by many factors, which are often beyond its control,
that can cause actual results to differ from those expressed or
implied by the forward-looking statements. For a discussion of risk
factors and other important factors affecting forward-looking
statements, please see Avangrid’s Annual Reports on Form 10-K and
Quarterly Reports on Form 10-Q filings and the information filed on
Avangrid’s Forms 8-K with the SEC as well as its subsequent SEC
filings, and the risks and uncertainties related to the proposed
transaction with Iberdrola, including, but not limited to: the
expected timing and likelihood of completion of the proposed
transaction, including the timing, receipt and terms and conditions
of any required governmental and regulatory approvals of the
proposed transaction that could reduce the anticipated benefits of,
or cause the parties to abandon, the transaction, risks that an
event, change or other circumstance could give rise to the
termination of the merger agreement, risks that competing offers or
acquisition proposals for Avangrid could be made, risks related to
disruption of management time from ongoing business operations due
to the proposed transaction, the risk that the proposed transaction
and its announcement could have an adverse effect on the ability of
Avangrid to retain and hire key personnel and maintain
relationships with its customers and suppliers, and on its
operating results and businesses generally, and litigation or
administrative proceedings that may arise in connection with the
proposed transaction. Other unpredictable or unknown factors not
discussed in this communication could also have material adverse
effects on forward-looking statements. Should one or more of these
risks or uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may vary in material
respects from those expressed or implied by these forward-looking
statements. You should not place undue reliance on these
forward-looking statements. Avangrid does not undertake any
obligation to update or revise any forward-looking statements to
reflect events or circumstances after the date of this report,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. Other
risk factors are detailed from time to time in Avangrid’s reports
filed with the SEC and we encourage you to consult such
disclosures.
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version on businesswire.com: https://www.businesswire.com/news/home/20240926212193/en/
Media Contact: Leo Rosales Leo.rosales@avangrid.com
518-419-2401
Avangrid (NYSE:AGR)
過去 株価チャート
から 10 2024 まで 11 2024
Avangrid (NYSE:AGR)
過去 株価チャート
から 11 2023 まで 11 2024
