Dec 23 (Reuters) - Iberdrola:

* SAID ON FRIDAY MERGER BETWEEN AVANGRID AND ARIZONA MERGER

SUB

EXPECTED TO BE COMPLETED ON DEC. 23

* RESULTING IN IBERDROLA OWNING 100% OF SHARE CAPITAL OF

AVANGRID

* IBERDROLA AND AVANGRID WILL TERMINATE SHAREHOLDER

AGREEMENT

BETWEEN BOTH COMPANIES

* AVANGRID WILL INITIATE PROCESS OF DELISTING ALL ITS SHARES

OF

COMMON STOCK FROM NEW YORK STOCK EXCHANGE

Source text:

Further company coverage:

(Gdansk Newsroom)