OHL and Grupo Villar Mir (GVM) have set the next February 20, 2021 as the deadline for the closing of the operation by which the second will deliver Pacadar and Alse Park to the first, in order to settle part of the debt of 129 million euros that it still has with the construction company.
As reported by the company owned by the Mexican brothers Amodio, the conclusion of these two transactions must also be submitted to the approval of the creditors of the company, after this Sunday they have already signed a contract to carry out the operation.
The terms of the agreement contemplate the payment in payment of 100% of the shares of Pacadar owned by GVM in favor of OHL to partially settle the debt, as well as the payment in payment of the shares of the company Alse Park, representing 32.5 % of its capital owned by GVM.
Likewise, the agreement includes the recognition by GVM of a debt of 45.85 million euros with OHL after the payment of the shares in these two companies.
This debt is distributed in a first tranche of 22 million euros with a maturity of five years and guaranteed by a pledge on shares of Espacio Information Technology, as well as another tranche for an amount of 11 million euros, with a maturity of two years and guaranteed by a pledge on certain credit rights of GVM.
It also includes a third tranche for an amount of 12.85 million euros with a maturity of five years, the repayment of which is contingent on the valuation of GVM’s stake in Ferroglobe on the stock market or its sale at a certain price.