July 19, 2017 / 8:50 PM / in 4 months

BRIEF-Hydro One to acquire Avista to create growing North American utility leader with C$31.2 billion in enterprise value

July 19 (Reuters) - Avista Corp

* Hydro One to acquire Avista to create growing North American utility leader with C$31.2 billion in enterprise value

* Avista Corp - ‍avista shareholders receive $53 in cash per common share​

* Avista Corp - Transaction will be accretive to earnings per share in mid-single digits in first full year of operation

* Avista Corp - ‍Hydro One’s acquisition financing involves issuance of C$1.4 billion of hydro one common equity and $2.6 billion of Hydro one debt​

* Avista Corp - No workforce reductions are anticipated as a result of this transaction for either Hydro One or Avista

* Avista Corp - ‍Hydro One and Avista customer rates will not be impacted by any of costs associated with transaction​

* Deal for C$6.7 billion ($5.3 billion) in all-cash transaction.

* Says transaction was unanimously approved by boards of directors of both companies

* Avista Corp - Avista preserves corporate identity including its headquarters

* Avista Corp - ‍Hydro One’s acquisition financing strategy involves issuance of C$1.4 billion of hydro one common equity and $2.6 billion of hydro one debt​ Source text for Eikon: Further company coverage:

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