Obrascon Huarte Lain, S.A.
London Stock Exchange
Madrid, October 17th 2017
Ref.: Notification of Significant Event: IFM binding offer over OHL Concesiones estimated capital gains
The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance with current legislation, hereby reports the following:
Significant Event
In addition to Relevant Fact published yesterday, October 16th (number: 257439) announcing the signature of the agreement between OHL and IFM Investors ("Binding Offer Agreement") for the acquisition of 100% of the share capital in OHL Concesiones, S.A.U. ("OHL Concesiones") by IFM Investors, the company informs of the following:
· The estimated capital gains for this transaction at current exchange rates is approximately 50 million euros. The final figure of the capital gains could differ at the settlement date, upwards or downwards, as result of the future evolution of the currencies that the Company operates against euro and due to the accounting result that OHL Concesiones will generate until the settlement date.
· The agreement reached with IFM Investors do not include non-compete agreements that could restrict the future capacity of OHL or its subsidiaries to invest in the field of infrastructure concessions in the different geographies in which it currently operates.
· The agreement does not include any type of regulation regarding the joint activities that the company sold may develop with OHL in the future.
In addition, the Company notifies an error in the translation of the Relevant Event dated October 16, 2017 in which the following information was omitted:
"The two concessions under liquidation (Ferrocarril Móstoles-Navalcarnero and Eje Aeropuerto - Access to T4 -) are excluded from the perimeter of the Transaction, therefore, in addition to the price, OHL will be entitled to collect all compensations (interests included) that OHL Concesiones may receive from such liquidation processes".
Yours faithfully,
José María del Cuvillo Pemán
Secretary of the Board of Directors