The curtain falls for Iberdrola in Mexico
The Spanish giant said goodbye. It sold 100% of its subsidiary to Cox ABG Group for around 4 billion dollars (3,643 million euros). End to a story that began decades ago.
The reason? Tensions with the AMLO government. Since 2023 they have been releasing assets like someone releasing ballast. They had already accumulated more than 9 billion euros in sales in the country. It wasn’t a divorce, it was a calculated escape.
“The operation is part of Iberdrola’s global strategy to concentrate on markets with more stable regulatory frameworks”
Translation: They prefer the United States and the United Kingdom, where the rules of the game don’t change every morning.
Who wins from this?
Cox ABG Group takes away a gem: key clients, stable income and a firm presence in Latin America. For them, it is a huge leap.
For Mexico, it is another chapter in the reconfiguration of the energy sector. Iberdrola will no longer be that heavy player that pulled the strings. Foreign investments look askance. The message is clear: if there is no regulatory stability, capital leaves.
And meanwhile, the lights are still on… but who knows for how long.
