OHL taps treasury to get tender offer over the line

OHL taps treasury to get tender offer over the line

Project & Infrastructure Finance Mexico Europe M&A Equity Australia

Spain’s OHL paid a little more than MXN13bn ($729m) to minority shareholders and tapped the treasury of its Mexican subsidiary to complete a tender offer for OHL Mexico. The subsidiary, OHL Concesiones, and Australian investor IFM, through corporate vehicle Magenta Infraestructura, bought back 482.21m shares, or 66.7% of OHL Mexico's free float. OHL Mexico had a maximum 727.5m shares in free float, the company said in a statement.Magenta fell 19% short of the minimum shares required to delist th

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