Maine regulators allowed Iberdrola’s acquisition of Avangrid to advance without state review, brushing aside objections from the state public advocate and environmentalists.
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Posted inBusiness, Local & State, News
Regulators allow $2.5 billion corporate takeover of CMP to proceed without review
The PUC agrees to waive state review of the deal in which Spanish energy giant Iberdrola will acquire the remaining shares in Central Maine Power’s parent company, Avangrid.
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Posted inBusiness, Local & State, News
CMP moves one step closer to avoiding regulatory review of Iberdrola takeover
A report by utilities regulators says an exemption to the state law requiring the review is warranted based on previous approval of a ‘corporate structure’ and dozens of conditions that remain in effect.
Posted inBusiness
Critics want regulatory review of CMP’s corporate takeover
Maine’s public advocate and environmentalists say a deal to take the utility’s parent company private would shield financial decisions from the public.
Posted inBusiness, Local & State
Spanish energy giant Iberdrola offers to buy rest of CMP parent company for $2.5 billion
It’s unclear what, if any, impact the deal would have on the customers of Central Maine Power Co., the state’s largest electric utility.