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OBRASCÓN HUARTE LAIN, S.A. ("OHL" or the "Company"), in compliance with the regulations included in article 228 of the Spanish Stock Market Act as passed by means of Royal Legislative Decree 4/2015, of 23 October, hereby notifies the National Stock Exchange Commission (Comisión Nacional del Mercado de Valores) of the following
OHL Group S.A. ("OHL Group") and IFM Investors have signed today an agreement ("Binding Offer Agreement") for the acquisition of 100% of the share capital in OHL Concesiones, S.A.U. ("OHL Concesiones") by IFM Investors with the following key terms:
incorporating non-majority shareholder at OHL Concesiones.
Grupo Villar Mir S.A.U., the majority shareholder of the OHL Group, has analyzed the Binding Offer Agreement and has concluded that it represents the best option for OHL Group and for the defense of its corporate interest, and has indicated that is supportive of the Transaction and will vote its OHL Group shares in favour of the Transaction.
OHL Group intends to call a shareholder meeting to approve the Transaction as soon as practical. This Transaction establishes a very attractive valuation for OHL Concesiones and will deliver significant proceeds to the OHL Group that will place the Company without net recourse debt and even with a positive cash position.
Following the Transaction, OHL Group will continue to operate its Construction, Industrial,
Developments and Services businesses.
Madrid, 16 October 2017