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Obrascon Huarte Lain (50ML)

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Wednesday 16 November, 2011

Obrascon Huarte Lain

Sale of OHL Medio Ambiente Inima S.A.U.

RNS Number : 1949S
Obrascon Huarte Lain, S.A.
16 November 2011
 



 

 

 

 

 

London Stock Exchange

 

 

Madrid, 16th November 2011.

 

 

 

Ref.: Significant Event. Sale of OHL Medio Ambiente, Inima, S.A.U. 

 

 

 

Dear Sirs,

 

The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance with the provisions of the Securities Market Act, hereby reports the following Significant Event:

 

The Company hereby notifies that on the date hereof it has entered into an agreement to sell to GS ENGINEERING & CONSTRUCTION CORPORATION its subsidiary OHL MEDIO AMBIENTE, INIMA S.A.U. for an equity value of €231 million. This is subject to the fulfilment of certain conditions typical in this type of transaction.

 

The aforementioned purchase price shall be increased to reflect the proposed acquisition by OHL of the Algerian desalination plants in Mostaganem and Cap D'Jinet, which are outside the scope of the transaction.

 

The Company has been advised by BBVA, GBS Finanzas and Linklaters.

 

This transaction is part of the plan announced by OHL to divest of an activity it considers to no longer be strategic and with a view to reducing its net recourse indebtedness.

  

 

 

Yours faithfully,

 

 

 

 

 

José María del Cuvillo Pemán
Vice-Secretary of the Board of Directors
 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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