Obrascon Huarte Lain - Partial sale of Centro Canalejas Madrid
09/02/2017 07:35
RNS Number : 4235W
Obrascon Huarte Lain, S.A.
09 February 2017
London Stock Exchange
Madrid, February 9th, 2017
Ref.: Notification of partial sale of Centro Canalejas Madrid.
OBRASCN HUARTE LAIN, S.A. ("OHL" or the "Company"), in compliance with current legislation, hereby reports the following:
SIGNIFICANT EVENT
Obrascn Huarte Lan Desarrollos, S.L. ("OHLD"), a wholly owned subsidiary of the Company, has entered into a sale and purchase agreement without any financing or due diligence attached thereto with MOHARI LIMITED, under which OHLD and Grupo Villar Mir have sold, pro rata to their respective participation, a 50% of the share capital of Centro Canalejas Madrid, S.L. for a total amount of 225,000,000 EUR.
In this regard, OHLD will receive an amount of 78,750,000 EUR for a 17.5% stake of the share capital.
Centro Canalejas Madrid, S.L. is the company that owns the development named "Complejo Canalejas" which is being built in the buildings located in numbers 6, 8, 10, 12 and 14 of Alcal Street, number 1 of Canalejas Square and number 7 of the Carrera de San Jernimo in Madrid.
The reference shareholder of the purchasing company is Mr. Mark Scheinberg.
The closing of this sale and purchase transaction is subject to the fulfillment of a series of conditions subsequent, of which compliance is deemed to be completed within the next weeks.
This transaction will generate a capital gain of, approximately, 29 Million Euros.
Yours faithfully,
Jos Mara del Cuvillo Pemn
Secretary of the Board of Directors
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAXANEDLXEEF