Cox Group continues business reorganization was awarded with Acquisition of Abengoa and everything indicates that the next step will be integrating the energy division Former Andalusian multinational company Works at Cox Energy Holding company specializing in renewable energy, simultaneously listed on the Spanish and Mexican markets.
In this way, the board of directors of Cox Energy reported that the company, headed by Enrique Riquelme from Alicante, BMEprocess of analysis, study and negotiation for what is possible acquisition, integration or consolidation I based the perimeter on CA Infraestructuras Energía 2023 SL (Abengoa Energía). A company that currently has Consolidated net worth of more than 60 million euro and one Expected ebitda of approximately 50 million euros for 2023.
Holding company underlines operation will particularly benefit the shareholders of the listed companyIt will allow it to advance its strategic plan by expanding its asset volume and business production.
As you may remember, the following awards were given to Cox Group: thirty Abengoa subsidiaries at an auction held as part of the multinational company’s bankruptcy case. An acquisition made through the company Cox Infraestructuras. was outside the listed affiliate’s circle of the holding. As Riquelme explained at a conference held in Alicante last summer, with this operation the group consisted of the following names: two big parts: formed by those listed Cox Energyspecializes in development and management. renewable energy projects, and another has his assets Abengoa and other group businesses have now been renamed as: Cox Abengoa.
With the announcement of the transfer the listed company’s business has been strengthened and similar entities are grouped under the same roof. Thus, among the businesses that will be integrated into Cox Energy, the company’s production unit Abengoa Bioenergy in Brazilis a company that operates an energy cogeneration facility. bioethanol 70 megawatt capacity Abener Algeriawith its hybrid combined cycle facility with technology solar thermos For electricity generation with a capacity of 150 megawatts.
more value
Enrique Riquelme, president of CoxAbengoa and founder of Cox Energy, said that “one of the objectives of the operation creating more value for shareholders“advances the listed company’s strategic plan.”Exemplifies the good way to integrate and our bet on Abengoa contributes to the consolidation of the group’s energy businesses, giving us more competitiveness and above all, Accelerating investments to make the company a leader in technological development for clean energy production“The businessman from Alicante added in a statement.
Integration of energy assets is therefore Cox Energy project portfolio, With an installed capacity of over 4.7 gigawatts as of the end of June 2023 60 projects in the presence Spain, Chile, Colombia, Mexico and Central America and the Caribbean, Among these, Meseta de los Andes, a 160-megawatt photovoltaic power plant (one of the most important in the country) located in the Valparaíso region of Chile, stands out. It was recently awarded a tender opened by the Guatemala National Electric Energy Commission.
The operation is subject to regulatory approval.