Sale of OHL Medio Ambiente Inima S.A.U. (1949S)
16 Novembre 2011 - 10:57AM
UK Regulatory
TIDM50ML
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 EUR231 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,
Jose Maria del Cuvillo Peman
Vice-Secretary of the Board of Directors
This information is provided by RNS
The company news service from the London Stock Exchange
END
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