(Reuters) -Spanish renewable energy and water company Cox has submitted an offer to take over Iberdrola’s assets in Mexico worth around 4 billion euros ($4.69 billion), newspaper El Confidencial said on Monday, citing unnamed sources close to the process.
Spanish utility Iberdrola hired investment bank Barclays to sell 15 renewable power plants in Mexico as it seeks to exit the country on concerns about the legal and tax stability in the country, El Confidencial reported last week.
Iberdrola already sold 55% of its assets in the country to the Mexican government for $6 billion in 2024, which the Mexican government called at the time a “new nationalisation” of the electricity market.
Iberdrola and Cox, which is present in Mexico, did not immediately respond to requests for comment.
($1 = 0.8532 euros)
(Reporting by Javi West Larrañaga, editing by Inti Landauro, Editing by Louise Heavens)
