Events after Reporting Date
On 8 February 2017, Grupo Villar Mir, S.L.U. signed a purchase and sale agreement whereby Grupo Villar Mir, S.A.U. and OHL Desarrollos, S.L. each sold, in proportion to their respective interests, 50% of the capital (shares) of Centro Canalejas Madrid, S.L. for a total price of EUR 225 million.
Thus, Grupo Villar Mir, S.A.U. shall receive EUR 146.25 million for the 32.5% share it sold.
Centro Canalejas Madrid, S.L. is the company that owns “Centro Canalejas Madrid”, which is being built on the properties located at Calle Alcalá numbers 6, 8, 10, 12 and 14, Plaza de Canalejas 1 and Carrera de San Jerónimo no. 7 in the city of Madrid.
In turn, the reference shareholder of the buyer is Mr. Mark Scheinberg.
Closure of the sale is subject to prior fulfilment of a series of conditions precedent, which are expected to be met in the weeks following signature.
On 23 January 2017, OHL Emisiones, S.A.U., a subsidiary of Grupo OHL, sold 24,759,520 Abertis Infraestructuras, S.A. shares, 2.5% of its ownership interests, at a price of EUR 13.59 per share.
The net funds received, which amount to EUR 331.9 million, were earmarked for: (i) early repayment of the non-recourse financing secured with 2.5% of these interests, for a total of EUR 272.9 million, at the same time cancelling the hedging (collar) in place and (ii) reducing Grupo OHL’s gross recourse debt.