March 7 (Reuters) - Iberdrola SA:

* ANNOUNCEMENT OF SUBMISSION OF A NON-BINDING INDICATION OF

INTEREST REGARDING THE ACQUISITION OF ALL OF THE SHARES OF

COMMON STOCK OF AVANGRID NOT OWNED BY IBERDROLA

* LAUNCHES BID TO ACQUIRE 18.4% OF ITS US SUBSIDIARY

AVANGRID

* COMPANY IS OFFERING $34.25 PER SHARE, AN APPROXIMATE 10%

PREMIUM

TO THE WEIGHTED AVERAGE PRICE OF THE LAST 30 DAYS

* NO FUTURE ADJUSTMENTS WILL BE MADE TO THE CONSIDERATION

OFFERED

IN THE EVENT THAT AVANGRID DISTRIBUTES DIVIDENDS PURSUANT TO ITS

NORMAL POLICY

* AGGREGATE CONSIDERATION PAYABLE BY IBERDROLA IN THE

PROPOSED

TRANSACTION WOULD AMOUNT TO ABOUT USD 2.49 BILLION

* EXECUTION OF A DEFINITIVE AGREEMENT REGARDING THE PROPOSED

TRANSACTION IS SUBJECT TO THE COMPLETION OF CONFIRMATORY DUE

DILIGENCE

* ALSO, CONSUMMATION OF PROPOSED TRANSACTION WILL BE SUBJECT

TO

CERTAIN CONDITIONS PRECEDENT CUSTOMARY FOR TRANSACTIONS OF THIS

NATURE

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(Gdansk Newsroom)