Overview
- An extraordinary shareholders' meeting in Seville recorded an 84.3% quorum with unanimous support for the acquisition proposals.
- The deal gives Cox control of about 2,600 megawatts of installed capacity and the country's largest private power supplier, serving more than 500 large clients with over 20 TWh annually.
- Cox says roughly 80% of the purchase will be financed with debt, with the remainder in equity; the company will contribute about 60% of the cost and international investors will provide the rest via preferred instruments.
- The company plans to invest about $10 billion in Mexico by 2030 focused on water and renewable energy, including roughly 15 plants totaling around 2.6 gigawatts.
- Cox frames the move within Mexico's Plan México policy environment, while Iberdrola's sale follows its announced exit from the market after disputes with the government.