Apr 29 2015

IFM Investors and OHL Mexico Announce Completion of Indirect Acquisition for 24.99% Stake in Conmex

IFM Investors and OHL Mexico, S.A.B. de C.V. (“OHL Mexico”) (BMV: OHLMEX) today announced the completion of IFM Global Infrastructure Fund’s indirect acquisition of a 24.99% equity stake in Concesionaria Mexiquense, S.A. de C.V. (“Conmex”), though the acquisition of an equity stake in Organizacion de Proyectos de Infraestructura, S.A.P.I. de C.V. (“OPI”). The transaction also involved the acquisition of a 24.99% equity stake in OPCEM, S.A. de C.V. (“OPCEM”), a subsidiary which will be responsible for the operation and maintenance of Conmex. OHL Mexico will retain 75.01% indirect ownership of Conmex and 75.01% direct ownership of OCPEM. The final purchase price was MXN 9,181 million (USD 610 million1).

OPI, a wholly-owned subsidiary of OHL Mexico, owns Conmex, the company responsible for the operation of the Circuito Exterior Mexiquense (“CEM”), a 110 km private toll road system in Mexico in the northeastern region of Mexico City.

Conmex is an essential operating asset in a densely populated and industrial area with a high rate of motorization. It has been operating since 2005 under a concession agreement provided by the State of Mexico, and has a remaining concession length of approximately 36 years. The investment is IFM Investors’ first in the Mexican market.

The transaction represents a key step forward for OHL Mexico that is consistent with the group’s strategy of asset rotation and enables OHL Mexico to crystallize Conmex’s market value. The transaction boosts OHL Mexico’s financial capacity, as the proceeds will strengthen the company’s capital position to invest in concession projects in Mexico, materializing as a consequence of growth opportunities.

BBVA Bancomer and Santander acted as financial advisors to OHL Mexico and Evercore acted as financial advisor to IFM Investors.

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