Alphavalue | OHL, through its subsidiaries Judlau Contracting and Community Asphalt, has signed contracts to carry out two contacts in the US for about 70 M€.
The Villar Mir family has received up to five demonstrations of interest in buying its shares in OHL, of which it controls 35%. Among those interested in taking over the company are three Chinese companies, one Italian and one French, even though the actual names of the companies have still not been made known.
Earlier this week, OHL sold 4.425% of Abertis (43.83 million shares) at 13,65 euros/share via placement with institutional investors. With this operation OHL will reduce its debt and also free itself up from its previous strategic commitment to Abertis in Brazil, which prevented it from expanding in a country which will have privatisations in the coming quarters.
Spain is one of the countries in the EU where its big businessmen remain in their posts the longest. Despite the fact that Emilio Botin is gone and Alierta and Villar Mir have left, the average age of Spain’s top businessmen is still higher than in France (56.6 years), the US (58.8 years) and the UK (55.8 years).
Newcomer to the stock exchange, Cellnex (a subsidiary of Abertis in the business of telecommunications networks) and oldtimer Viscofan (which manufactures cellulose wrapping for the food sector) will substitute two new generation construction companies (Sacyr and OHL). Both of these firms are controlled either by families or professionals.
Mexico’s Banking and Securities regulator (CNBV) has exonerated OHL Mexico from any evidence of fraud in its accounting practices, accepting the way the firm accounts for expected earnings from its motorway concessions in Mexico.
The Corner | April 1, 2015 | Public works contracts grew by €2.88 billion (25%) in 2015, bucking a negative trend that had been prevalent for the previous seven years.
MADRID | By Jaime Santisteban | Time for EU peripherals’ sovereign debt auctions: Spain, Italy, Ireland and most importantly, Greece, which is back on the market after 4 years. Note that the successful Greek sale pushed down the yields of its neighbors. Besides, Qatar’s sovereign wealth fund has become shareholder of Colonial, following the steps of big finance firms like Fidelity that recently renewed their bet for Spanish listed companies and volatile real estate. Colonial rose by 14.3 % at the closing bell.
MADRID | This contract award is highly relevant for OHL in light of the competition with strong local construction companies.
Next Autumn, a panel of arbitrators will open hearings over the New York dispute confronting Spanish construction giants OHL and ACS, which blame each other for the mismanagement of tunnel excavation costs in their joint venture for a subway project. But its outcome is unfortunately known, already: it is set to please nobody. Least of all investors in both companies, analysts in Madrid say. Works to extend the Long Island metropolitan…