Cox Energy America enters deal with Ibox Energy to acquire 40% stakes

Cox Energy America SAB de CV, a unit of Cox Energy Solar SA, has entered a deal to acquire a 40% stake in Spanish solar photovoltaic specialist Ibox Energy.

The transaction is valued at about EUR95 million (US$112.8 million) with EUR20 million (US$24.02 million) to be paid in a fixed amount until the end of 2022 and a variable portion of EUR75 million (US$90.07 million) that will be paid based on certain results. 

The deal will be subjected to shareholders and regulatory approvals.