OHL Transfers 5% in Abertis to Villar Mir’s Topline Inmobiliaria Espacio for €701.91 Mn

15/10/2014 – Bolsamania

OHL has sold a total of 44.91 million shares of Abertis, correspondent to 5% of the firm’s stake, to Inmobiliaria Espacio, principal company of Grupo Villar Mir, for €704,91 million.

The amount indicates that each share’s price stood at €15.6944, while currently they are traded at 14.8200 euros each (down 1.17%).

The operation, expected to conclude still this week, increases stake of OHL in Abertis from former 13.925% to 18.925%. The company is going to intend the equity obtained from the sale for paying in advance a part of its debt with recourse secured by the transferred shareholding.

The Syndicate Agreement

OHL and Inmobiliaria Espacio signed a syndicate agreement on the stake of Abertis with view to ‘coordinate and unanimous excercise of corresponding voting rights’. In case of lack of agreement between the parties, majority of votes shall prevail. The contract will be in force for one year with possibility of prolonging it to the next years.

 

Original article: Bolsamanía (by Sara Carbonell)

Translation: AURA REE

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