The merger operation between OHL and Mexico's Caabsa continues and little by little more details are known on how it could be carried out. The Amodio family, which wants to take control of OHL, has raised the merger with the Mexican construction company Caabsa to the Spanish group, as confirmed by the Spanish construction company to the CNMV this morning.
"The Company informs the market that today it has received a letter from Mr. Luis Fernando Martín Amodio Herrera and Mr. Julio Mauricio Martín Amodio Herrera to analyze a possible integration of the construction business of Caabsa Infraestructuras, SA CV (entity owned by the Amodio family) ("Caabsa") and OHL through a potential merger through the absorption by OHL of the aforementioned construction business ", includes the document sent to the supervisor of the markets.
The merger, according to its proposal, would grant the Amodio family a share of not less than 31% or more than 35% of OHL's share capital and would be a "merger by absorption", so it asks the National Securities Market Commission (CNMV) to exonerate Caabsa from launching a public tender offer (opa).
It would be a "merger with an industrial or business objective in accordance with the provisions of article 8.g) of Royal Decree 1066/2007, of July 27 on the regime of public offers for the acquisition of securities," said the brief . The company, one of the flagships of the Villar Mir Group, has convened this morning a Board of Directors to analyze and discuss the proposal.
Meanwhile, investors have shown their reaction on the stock exchange and the company's shares stand out at around 10% almost since the opening of the session. Its titles are changed to 1,179 euros, which puts the capitalization of the company at about 338 million euros, 11.2% more than its value at the beginning of the year.
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