Cox Agrees to Acquire Iberdrola Mexico Business for €3.6 Billion (~$4.2 Billion)

March 20, 2026

Cox has agreed to acquire Iberdrola’s Mexico business in a €3.6 billion (about $4.2 billion) transaction backed by Goldman Sachs and a seven-bank syndicate. The deal will add more than 2.6GW of installed capacity across 15 generation plants (wind, solar PV, and cogeneration/combined-cycle) and includes the integration of roughly 700 employees to support ongoing operations and expansion in Mexico.

Buyers
Cox
Targets
Iberdrola Mexico business (Iberdrola’s Mexico electricity assets)
Sellers
Iberdrola
Industry
Energy
Location
Mexico
Transaction Type
Buyout

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