OHL México, S.A.B. de C.V. (“OHL México” or the “Company”) (BMV:OHLMEX) informs that, pursuant to the relevant event dated October 4 2016, whereby it was informed to the public investors that the Company, entered into an agreement with IFM Global Infrastructure Fund (“IFM”), a global fund administrator, to increase through its subsidiary Woodside Spain, S.L.U. (“IFM Woodside”), its equity interest up to 24.01% in Organización de Proyectos de Infraestructura (“OPI”) (the “Operation”), as of April 12, 2017, the Company entered into various agreements with IFM Woodside by means of which OHL México and IFM Woodside agreed to execute the Operation in two subsequent phases.
The first phase of the Operation, which closed on this date, consists in the acquisition by IFM Woodside of the 14% of the OPI’s capital stock. The price paid by IFM Woodside in the first phase of the Operation totals $5,224 million Pesos. Thus, IFM increased its indirect equity participation in OPI from 24.99% to 38.99% and OHL México shall maintain control over OPI with 61.01%.
The second phase of the Operation consists in the increase of the equity interest of IFM Woodside in the capital stock of OPI up to an additional 10.1% to obtain the 49% percent originally agreed as of October 2016. The second phase is subject to the compliance of a series of conditions and the corresponding approvals, the parties expect to conclude the second phase of the Operation in the second half of this year. Once the second phase has been concluded, IFM shall increase its indirect equity participation in OPI from 38.99% to 49% and OHL México shall maintain control of over OPI with an equity interest of at least 51%.
The decision to implement the Operation in two phases seeks to satisfy the actual needs of liquidity for the operation of the Company and its concessions. The Operation is in accordance with OHL México strategy of rotating mature assets and reinforcing the financial capacity of the Company. This Operation confirms the success of the partnership between OHL México and IFM.
OPI is a company controlled by Concesionaria Mexiquense (“Conmex”), which is responsible for the operation of the Outer Loop of the State of Mexico (Circuito Exterior Mexiquense), a toll freeway of 110 km located in the State of México, which covers 18 municipalities of the State of México and links the northeast section of Mexico City.
