OHL confirms sales plans for Mexico highway concessions

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Thursday, April 20, 2017

Spanish construction firm OHL confirmed its interest in selling up to 49% of the stakes it owns in two of its Mexican highway concessions.

"In regard to recent press reports regarding the potential sale of up 49% of two of its highway concessions, Viaducto Bicentenario and Urbana Norte highway, OHL México confirms that it aims to maintain its policy of rotating the minority shares of its assets when the time is right," the local subsidiary said in a filing to the Mexican stock exchange.

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Rumors about the total or partial sale of some of the OHL's highway concessions in Mexico to fund the development of new projects in the country had been circulating for the past few weeks.

The move is part of the company's financial strategy to reduce debt and obtain resources to develop new projects, as well as to focus on acting as a builder of infrastructure rather than an operator.

The strategy is not meant to impact OHL's strong involvement in the Mexican infrastructure market. In January, the company announced a 7.5bn-peso (US$399mn) investment to carry out various infrastructure projects in Mexico this year.