Medina Cuadros Abogados advises Cox Energy on the award of Abengoa contract

Medina Cuadros Abogados has acted as exclusive legal advisor to Cox Energy in the award process for Abengoa's production units, in the related bankruptcy proceedings of 33 companies of the Andalusian group, which have been processed in the Commercial Court No. 3 of Seville since last November 2022.

Within the framework of this bankruptcy proceeding, Cox Energy, valued at €564 million, has been awarded the contract for the production units of Abengoa's various business areas and corporate headquarters. The offer guarantees the continued employment of Abengoa's more than 9,500 employees and the payment of bankruptcy debts, in addition to providing the company with €3.2 billion in workload over the next three years with guaranteed profitability.

The Medina Cuadros legal team, led by Managing Partner Antonio Medina, has brought its extensive experience in mergers and acquisitions to comply with the new legal requirements and ensure the success of the transaction, working closely with Cox Energy and Arcano, the transaction's financial advisor.

The award of the contract between Abengoa and Cox Energy has been affected by the new regulations of the Consolidated Text of the Bankruptcy Law 16/2022, which came into force last September and entailed significant changes to the bankruptcy regulations. This has been of significant significance and can be considered the most important, both from a financial perspective and due to its legal complexity, since the regulation came into force.

"We are very pleased to have participated in this large-scale transaction. The experience of our legal team and our ability to work closely with our clients have allowed us to provide a high-level legal service, thus contributing to the success of this transaction," stated the managing partner of Medina Cuadros.

Medina Cuadros Abogados' participation in the awarding of Abengoa to Cox Energy has been a further demonstration of its experience and capacity in providing legal advice on complex mergers and acquisitions. consolidating its position as one of the most important law firms in this field in Spain.