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

DLA Piper Advises Grupo Cox on Landmark Acquisition

On August 1, 2025, DLA Piper announced its successful advisory role in Grupo Cox's acquisition of Iberdrola's assets in Mexico, with a transaction value pegged at an impressive $4.2 billion. This acquisition stands out as one of the most significant cross-border energy deals of the year, highlighting DLA Piper's expertise in navigating complex international transactions.

Grupo Cox, a leading Spanish multinational company specializing in water and energy, embarked on this strategic acquisition to expand its footprint in the Mexican energy sector. Francisco J. Cerezo, Chair of the US-Latin America and Ibero-American practices at DLA Piper, co-led the deal team, expressing enthusiasm over collaborating with Grupo Cox in this landmark acquisition. He stated, "We appreciated the opportunity to work with the Cox team on this landmark acquisition and look forward to advising the company on its future cross-border initiatives."

Antonio Medina Cuadros, Chief Legal Officer and Secretary General of Grupo Cox, praised the DLA Piper team for their exceptional support, remarking on their professionalism and unwavering dedication throughout the complex negotiation process. His recognition was a testament to the team's outstanding commitment, which he deemed crucial for the success of this intricate transaction.

The deal was meticulously orchestrated by a proficient team from DLA Piper that included co-lead Partner Mauricio Valdespino from Mexico City, along with partners and associates from various DLA Piper offices worldwide. The diverse team comprised over 40 attorneys who brought a wealth of knowledge and expertise to the table, ensuring a seamless execution of the acquisition. This collaboration reflects DLA Piper’s strong positioning in both the US and Latin American markets.

DLA Piper has established itself as a leader in global M&A, having been ranked number one in global M&A volume for 15 consecutive years, according to Mergermarket. Furthermore, PitchBook recognized the firm as a leader in venture capital, private equity, and M&A, underscoring its substantial role in significant deal-making across various sectors.

The firm's expansive reach across more than 40 countries allows it to provide comprehensive legal services tailored to individual client needs worldwide. In Latin America, DLA Piper’s team offers full-service legal counsel, serving both domestic and multinational corporations invested in the region. This integrated strategy combines local insights with the extensive resources of the DLA Piper global platform, ensuring clients receive the essential support they need in their corporate endeavors.

More than 400 lawyers throughout Argentina, Brazil, Chile, Mexico, Peru, and Puerto Rico, alongside cross-border attorneys in the US, collaborate frequently. This committed approach enables synergy among various jurisdictions, thereby enhancing DLA Piper's capacity to assist clients in navigating the complexities of international transactions.

Notable too is the firm's recent recognition in 2025's BTI Client Service A-Team report, which highlights law firms that deliver exceptional client service based on client feedback. This accolade further demonstrates DLA Piper’s commitment to providing high-quality legal service.

In conclusion, the successful acquisition of Iberdrola's assets in Mexico signifies a major step for Grupo Cox in enhancing its operations in the energy sector. With DLA Piper's adept guidance, this transaction not only strengthens Grupo Cox's market position but also exemplifies the firm's reputation as a leading advisor in complex cross-border deals.