They are going to buy 20% of OHL. Villar Mir is released from his debts: he has one year to pay back 128 million and owes another 328
The Villar Mir family, faced by Javier López Madrid
Juan Villar Mir revolutionizes his father's company
Villar Mir: imputed, forgotten in Palacio and separated from his company
Accustomed to growing by the PRI, López Obrador's arrival at the Presidency of Mexico was a blow to the Caabsa group led by the brothers Luis and Mauricio Amodio Herrera. During the years of PRI, these Mexican engineers, founders of a conglomerate composed of 35 companies and more than 30 heritage firms , took some of the most juicy public works contracts on the market, such as the Santa Fe Center, considered the largest place Latin American commercial.
The stoppage of new contracts in Mexico with the arrival of López Obrador, forced the brothers to seek new business opportunities abroad. That is why they laid eyes on Spain, where they already have business and are knowledgeable about OHL's situation. This week they decided to take the step and the construction company confirmed in a note sent to the CNMV that they are in negotiations for the Amodio to become 20% shareholders of the company. An advantageous business for everyone, as they arrive to save the Villar Mir Group, urged by debts. In the last four years, the Madrid family has reduced its participation in OHL from 60% to the current 30.6%, while the company's shares have decreased their value by 92%. In addition, they owe 110 million to OHL - to be returned in a maximum of 12 months - and another 365 million to the Monegasque venture capital fund Tyrus Capital.
The first landing in Spain of the Amodio Herrera family came in 2010 with the creation of Integración de Negocios Inmobiliarios SL, a company specializing in the development of real estate based in Alberto Alcocer street. In the Mercantile Registry, Mauricio appears as agent and administrator, together with the Spanish businessman José Antonio García de Vinuesa, in at least six other companies, among which Fusion de Ideas España Real Estate Development stands out, which has a share capital of 2.7 million
NEAR THE GOVERNMENT
In Mexico little is known about the Amodio family and their fortune. Luis studied civil engineering at the University of La Salle, while Mauricio studied industrial engineering at the Universidad Iberoamericana. In 1979 they founded the Caabsa Group, a conglomerate of companies specializing in construction . This newspaper has contacted the business group, but at the end of this edition it still did not get answers.
Silence is part of their strategy, although they attend many social events with its foundation , the NGO 'Servi Museums AC'. It is not surprising that at the time of Peña Nieto was the seventh most benefited in the country, he received public subsidies close to five million. However, López Obrador has stopped part of the awards they got with the previous government.
They were going to build the Mexico-Toluca train line with other companies in a consortium. His project was 70 million more expensive than the rest, but he won. Although it should be finished in 2018, López Obrador canceled it after verifying the abandonment of the work.
The brothers also participated in the construction of the star infrastructure project of the Government of Peña Nieto, the new airport in Mexico City , canceled in turn by López Obrador. The new president's austerity policy has hit the finances of the Amodio Herrera brothers hard. Before the black economic panorama that is drawn in Mexico, these discreet engineers will land in Spain to take advantage of the window that the Villar Mir family leaves open in OHL .
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