The $6 billion transaction for the sale of 13 power plants owned by Iberdrola to the private equity firm Mexico Infrastructure Partners (MIP) will be completed this Monday, February 26, according to information from the Spanish-owned energy firm.
According to the company's annual report, after the Federal Economic Competition Commission (Cofece) plenary session authorized the acquisition of the generating plants from the MIP on February 15, with certain conditions, Iberdrola will finally receive the amount agreed upon on April 4 of last year this coming Monday.
The operation has financial support from Mexico's National Infrastructure Fund (Fonadin) and other public financial institutions linked to the Mexican government.
According to the Treasury Department, the transaction will not put pressure on public finances
, since of the $6 billion acquisition, $3.6 billion, or 52 billion pesos, will come from the treasury.
