OHL significantly reduces stake in Abertis
Spanish construction company OHL announced that it sold an additional 4.425% of its 6.930% stake in Barcelona-based infrastructure group Abertis.
In a regulatory statement, OHL said it sold 43.8mn shares and that these were initially offered to institutional investors.
The sale is part of a gradual reduction of its ownership stake in Abertis. OHL had previously sold 7% in June and 5% in October 2014.
OHL said it will use the proceeds from the latest sale to prepay debt and to finance already tendered concessions in Latin America. The proceeds will allow OHL Concesiones to completely pay off its debt of 266mn euros.
The company also said it has no specific plans for the 2.5% that it still owns in Abertis.
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