Overview
- Cox won investor sign-off to acquire 100% of Iberdrola México, a deal announced at roughly $4.2 billion.
- Management said about 80% of the purchase will be funded with debt, with Cox providing around 60% of the equity and international investors supplying the remainder via preferred securities.
- The acquisition adds approximately 2,600 MW of installed capacity, gives access to about 25% of Mexico’s private supply market, and brings more than 500 large clients.
- The extraordinary meeting in Seville recorded an 84.3% quorum, and all agenda items passed with what the company described as unanimous support.
- Cox outlined plans to invest up to $10 billion in Mexico through 2030 across water and renewables, noted the transaction still requires regulatory clearances, and framed the move within the government’s Plan México.