IBERDROLA: EXTENSION OF MERGER AGREEMENT AND APPEAL BEFORE NEW MEXICO COURT OF APPEALS (ANÁLISIS BANCO SABADELL)
The company has communicated that Avangrid (81.5% IBE) has extended its merger agreement with PNM Resources through the 20th of April’23 (extendable for 3 additional months in certain limited circumstances). Furthermore, the parties have prepared an appeal before New Mexico Court of Appeals on the resolution adopted on the 8th of December’21 by the Public Regulation Commission that opposed the merger between Avangrid and PNM.Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.
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