Magenta Infraestructura files with CNBV to extends cash tender offer to acquire up to 100% of OHL Mexico’s public shares and reduces minimum acceptance condition to 85%
July 10, 2017
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OBRASCÓN HUARTE LAIN, S.A. (“OHL” or the “Company”), in compliance with the regulations included in article 228 of the Spanish Stock Market Act as passed by means of Royal Legislative Decree 4/2015, of 23 October, hereby notifies the National Stock Exchange Commission (Comisión Nacional del Mercado de Valores) of the following
OHL announces that it Mexican subsidiary OHL MEXICO, S.A. de C.V. has notified the market the following statement:
“Magenta Infraestructura files with CNBV to Extends Cash Tender Offer to Acquire up to 100% of OHL Mexico’s Public Shares to July 26th, 2017 – Reduces Minimum Acceptance Condition to 85%”
Mexico City, July 10, 2017 – “OHL Mexico S.A.B de C.V. (“OHL Mexico”) (BMV: OHLMEX) has been notified by Magenta Infraestructura, S.L. (the “Offeror”) on the same date hereof that it has filed a request to modify the offer launched over the public shares of OHL México (the “Offer”), substantially in the following terms:
1. Reduce the minimum acceptance condition from 95% to 85%, such that, considering the number of public shares of OHL México that accept the Offer, the Offeror and its affiliates will own or hold, directly or indirectly, at least 85% of the representative shares of the capital stock of OHL Mexico. This reduces the conditionality of the all cash tender offer and increases certainty for shareholders who accept the Offer that the Offer will be successful.
2. Extend the term of the Offer for an additional period of 5 (five) business days, such that, the Offer will now close at 14:00 hours (Mexico time) on Wednesday, July 26, 2017. This extension period is expected to allow for the receipt of all necessary authorizations from the European Antitrust Commission (Comision Europea de Competencia) for completion of the all cash tender offer as set forth in the Offering Memorandum of the Offer. The remaining terms and conditions of the Offer, including the acquisition price of the Offer, remain unchanged as set out in the Offering Memorandum of the Offer.