Latham & Watkins Advises on Cox’s €175 Million IPO

Latham & Watkins has advised Cox, a vertically and horizontally integrated water and energy utility, on its €175 million initial public offering (IPO) on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges. The offering was priced at €10.23 per share and consisted of a greenshoe of up to 15%, resulting in a post-IPO market capitalization of c. €805 million.

The Latham team was led by Madrid corporate partner Ignacio Gómez-Sancha and London corporate partner Ryan Benedict, with Madrid associates Lucía de Bustos and José Luis Bootello, and London associate Gabriela Barriuso Clark. Advice on Spanish corporate matters was provided by Madrid partner María José Descalzo, with associates Paloma Arizón and Fernando Quintana; on English corporate matters by London partner Robert Moulton and associate Frederick Gardner; on Spanish tax matters by Madrid partners Jordi Domínguez and Iván Rabanillo, with counsel Blanca Vázquez de Castro; on US tax matters by New York partners Jocelyn Noll and Gregory Hannibal, with London partner Karl Mah and New York associate Shangpu Sun; on employment matters by Madrid counsel Guillermo Ruiz de Salazar; on litigation matters by Madrid partner Óscar Franco; and on regulatory matters by Madrid partner José María Alonso and associate Telmo Iriondo.