IFM to launch offer for remaining OHL México shares
Australian investment management firm IFM is set to launch a tender offer for 13.9% of OHL México.
The figure represents the percentage of the Mexican firm that is not in the hands of IFM or OHL Concesiones.
The offer could come from IFM or one of its subsidiaries, local daily El Economista reported.
It would be launched once the sale of OHL Concesiones to the Australian firm, for which IFM will pay Spain's OHL Group 2.7bn euros (US$3.2bn), is completed, the report said. That would leave IFM holding 86.1% of OHL México.
The offer is one of the conditions included in the sale agreement signed between the Spanish group and the Australian firm last week. The sale is expected to close during the first quarter of next year.
In June, OHL-controlled investment vehicle Magenta Infraestructura and IFM launched a cash tender offer to acquire 100% of OHL México's free float shares.
After a number of updates, the offer only managed to attract an additional 28.3% of the shares, leaving Magenta and IFM's stake in the company at 85.5%.
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