OHL finalizes an agreement to integrate its concession assets in Brazil into Abertis

Further to the Agreement of Intent signed by OHL and Abertis last 24 April 2012, on Saturday, 4 August 2012, both companies finalized an agreement to integrate OHL Brazil, OHL’s listed subsidiary in Brazil, into Abertis.

The transaction has been instrumented as a swap of 100% of the capital stock of Partícipes en Brasil, the vehicle company holding a 60% stake in the listed company OHL Brazil, in exchange for 10% of Abertis’s capital stock, with the latter’s assumption of liabilities held by OHL Concessions in Partícipes en Brasil amounting to 504.1 Million Euros, and payment of 10.7 Million Euros.

Closure of the operation, as is standard practice, is subject to obtaining various administrative permits and third party agreements related to the financing. In any case, it is expected to take place during 2012.

Transformation change for OHL

With this transaction, OHL will increase its stake up to 15%, becoming a new industrial partner and reference shareholder in Abertis, clearly intending to remain in the long term and to loyally collaborate with the other shareholders in the company’s best interest.

Thanks to the transaction finalized with OHL today, Abertis will become the world’s new leader in the highway sector, both in terms of kilometers under management (over 7,000) and revenues. It also represents a huge step forward in its internationalization process.

From a strategic point of view, with this operation OHL is turning over its mature assets in Brazil, crystallizing value at the right time, becoming an industrial partner and shareholder of reference in a large company that is the world’s concessions leader, with a solid financial structure (enjoying Investment Grade rating) and a shareholder remuneration policy that guarantees a significant and stable dividend flow.

From a financial point of view, this operation boosts OHL’s reduction strategy for debt with recourse, strengthening and improving its credit profile, and reinforces the financial independence of its concessions business.