DLA Piper Guides Grupo Cox in $4.2 Billion Acquisition of Iberdrola Mexico

DLA Piper Successfully Facilitates Acquisition of Iberdrola Mexico

On August 2, 2025, DLA Piper announced its role in advising Grupo Cox, a prominent Spanish multinational company in the water and energy sector, on the acquisition of Iberdrola's assets in Mexico for a substantial total of $4.2 billion. This deal not only signals the significant economic resources at Grupo Cox's disposal but also positions the company strategically in the Latin American energy market, making it one of the largest cross-border energy transactions of the year.

DLA Piper's involvement in this pivotal acquisition was led by Francisco J. Cerezo, the chair of the firm’s U.S.-Latin America and Iberian practice. Cerezo expressed immense satisfaction in collaborating with the Cox team during this groundbreaking transaction, stating, "We value the opportunity to work with Grupo Cox on this acquisition and look forward to assisting them with their future international initiatives."

Antonio Medina Cuadros, Chief Legal Officer and General Secretary of Grupo Cox, recognized the hard work and professionalism displayed by DLA Piper, particularly commending Cerezo and Mauricio Valdespino, saying, "Their dedication and work ethic far exceeded what one might expect from legal counsel. The exceptional performance of the DLA Piper team was undoubtedly a key factor in the success of this complex transaction."

The cross-border DLA Piper team consisted of over 40 lawyers, with Cerezo based in Miami alongside partner Mauricio Valdespino from Mexico City, and included partners Edgar Romo, Guillermo Aguayo, and Roberto Ríos—all from Mexico City. This collaborative effort was bolstered by legal experts from New York and Madrid, showcasing the firm’s global reach and expertise.

With a network of more than 1,000 corporate lawyers worldwide, DLA Piper specializes in guiding clients through complicated transactions across various stages of development. Notably, they have maintained the position as the number one law firm globally for M&A volume for the past 15 years, according to Mergermarket, and have similarly dominated in the venture capital (VC), private equity (PE), and M&A sectors based on combined global deal volume, as cited by PitchBook.

DLA Piper's Latin America team is well-equipped to provide comprehensive legal advice to both domestic and multinational corporations operating throughout the region, thanks to an integrated approach that combines local knowledge with the extensive resources of DLA Piper's global platform. Their legal networks in Argentina, Brazil, Chile, Mexico, Peru, and Puerto Rico enable them to regularly collaborate with professionals across Latin America and beyond.

Recognized for their exceptional client service, DLA Piper recently earned the top rating for client service in the BTI Client Service A-Team 2025 report, highlighting their commitment to delivering outstanding service based on client feedback.

As a globally active legal firm with a presence in over 40 countries, including North and South America, Europe, the Middle East, Africa, and the Asia-Pacific region, DLA Piper remains committed to providing exceptional legal support to its clients worldwide. The firm's ability to handle complex legal challenges on a global scale ensures that they can meet the diverse needs of businesses looking to establish or expand their presence in international markets. For more information, visit DLA Piper.