The law firm DLA Piper acts as advisor to Grupo Cox, a Spanish company active in the water and energy sectors, in the context of a planned acquisition of Iberdrola’s assets in Mexico. The reported value for this transaction amounts to $4.2 billion (approximately €3.85bn). This project is among the major cross-border operations announced in the energy sector in 2025.
Mobilisation of international legal teams
DLA Piper reports having mobilised more than forty lawyers from its offices in Europe and the Americas to assist Grupo Cox in this transaction. The advisory team is led by Francisco J. Cerezo and Mauricio Valdespino, supported by several partners from the firm in Mexico City, Miami, New York and Madrid. The firm highlights the complexity of asset transfer operations involving multiple jurisdictions and varied regulatory frameworks.
Nature and value of the ongoing transaction
The contemplated transaction concerns a portfolio of Iberdrola’s energy assets in Mexico. Detailed information regarding the exact scope of the assets has not been disclosed at this stage. There is no confirmation of the effective completion of the transaction, which remains subject to the signing of final agreements and necessary regulatory approvals. The reported value positions this project among the most significant asset transfers of the year in the regional energy sector.
Involvement of Grupo Cox and market context
The project comes at a time of reconfiguration in the Latin American energy market, marked by substantial investment and external growth strategies. Antonio Medina Cuadros, General Counsel and Corporate Secretary of Grupo Cox, commended the work of the legal teams involved, highlighting their professionalism and commitment on this international file.
Antonio Medina Cuadros stated: “Their professionalism and tireless work ethic go well beyond what one would expect from a legal advisor.”
