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IFM Investors announces completion of acquisition of 100% of OHL Concesiones

IFM Investors announces completion of acquisition of 100% of OHL Concesiones

PR Newswire

NEW YORK, April 12, 2018 /PRNewswire/ — IFM Investors is pleased to announce that the IFM Global Infrastructure Fund (“IFM GIF”) has completed the acquisition of 100% of OHL Concesiones S.A.U. (“OHL Concesiones”). The equity purchase price was EUR 2,158 million (~US$2,643 million1).

OHL Concesiones is a diversified portfolio of transportation infrastructure concessions with 19 assets across five countries, headquartered in Madrid, Spain. The portfolio consists of 14 toll roads, three ports, one airport, and one light rail asset, all of which will continue operations following completion of the acquisition. The transaction represents the completion of IFM GIF’s first investments in Spain, Chile, Peru and Colombia.


IFM Investors intends to build upon the company’s track record of successfully developing and operating transportation infrastructure assets to become the preferred provider of sustainable transport solutions. IFM Investors will also draw on its global toll road experience to drive operational and governance improvements in a transparent way.

The transaction gives IFM Investors indirect control of OHL M xico, S.A.B. de C.V. (“OHL Mexico”) and Concesionaria Mexiquense (“Conmex”), which are an attractive platform of assets in Mexico and are already part of IFM GIF’s portfolio.

As a result of the indirect change of control in OHL Mexico resulting from the acquisition of OHL Concesiones by IFM Investors, the Mexican Securities Market Law requires IFM Investors to launch a compulsory tender offer for OHL Mexico shares. In compliance with these requirements, IFM Investors, through its affiliate Magenta Infraestructura, has launched a compulsory public tender offer for the minority interests in OHL Mexico not controlled by IFM Investors upon completion of the OHL Concesiones acquisition. OHL Mexico shareholders may decide whether to accept the tender offer or not.

For shareholders of OHL Mexico who decide not to accept the tender offer, IFM Investors welcomes their involvement as partners in the OHL Mexico business and looks forward to participating in the company together.

IFM Investors intends to implement enhanced compliance policies and procedures and will focus on improved governance and transparency within the company. To reflect the new ownership, structure, priorities and policies, a global rebranding strategy for OHL Concesiones is well progressed and IFM Investors will make a formal announcement at the appropriate time.

For further information, please contact:

For Mexico inquiries:

Pablo Zarate

FTI Consulting

+52 55 5540 8004

pablo.zarate@fticonsulting.com

For Spain Inquiries

Stela Grozdanova

FTI Consulting

+34 91 524 38 60

Stela.Grozdanova@fticonsulting.com

For US inquiries:

Molly Ahearn

Prosek Partners

+ 1 212 279 3115 x127

mahearn@prosek.com

For Australian inquiries:

Phil Davey

Mountain Media

+ 61 414867188

phil@mountainmedia.com.au

About IFM Investors

IFM Investors is a global institutional funds manager with US$79 billion under its management as of December 31, 2017. Established more than 20 years ago and owned by 27 Australian pension funds, IFM Investors’ interests are deeply aligned with those of its investors. Investment teams in Australia, Europe and North America manage institutional strategies across debt investments, infrastructure, listed equities and private equity. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in eight cities: Melbourne, Sydney, New York, London, Berlin, Tokyo, Hong Kong, and Seoul.

The following disclaimer applies to this document and any information provided regarding the information contained in this document (the “Information”). By accepting this document and Information, you agree to be bound by the following terms and conditions. The Information does not constitute an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this client report nor anything in it will form the basis of any contract or commitment. IFM Investors Pty Ltd, ABN 67 107 247 727, AFS Licence No. 284404, CRD No. 162754, SEC File No. 802-75701 (“IFM Investors”) will have no liability, contingent or otherwise, to any user of the Information or to third parties, or any responsibility whatsoever, for the correctness, quality, accuracy, timeliness, pricing, reliability, performance or completeness of the Information. In no event will IFM Investors be liable for any special, indirect, incidental or consequential damages which may be incurred or experienced on account of an investor using Information even if it has been advised of the possibility of such damages. Certain statements in the Information may constitute “forward looking statements.” Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of earnings, performance, and cash flows. These statements involve subjective judgement and analysis and reflect IFM Investors’ expectations and are subject to significant uncertainties, risks and contingencies outside the control of IFM Investors which may cause actual results to vary materially from those expressed or implied by these forward looking statements. All forward-looking statements speak only as of the date of this client report or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section. Investors are cautioned not to rely on such forward looking statements. The IRRs presented on a “gross” basis do not reflect any management fees, carried interest, taxes and allocable expenses borne by investors, which in the aggregate may be substantial. The achievement of any or all goals of any investment that may be described in this Information is not guaranteed. Risks of IFM Investors’ investment programs typically include: assets of IFM Investors funds may have limited liquidity; distributions are uncertain, a return on your investment is not guaranteed and you may lose all or a substantial amount of your investment; unfavorable economic conditions in the markets in which IFM Investors funds operate could adversely affect your investment; assets acquired with leverage have risks including loss of value and limits on flexibility needed if there are changes in the business or industry. An investment in any of these investment programs should be made only after careful review of the risk factors described in the related offering documents. This Information may contain material provided by third parties for general reference or interest. While such third party sources are believed to be reliable, IFM Investors does not assume any responsibility for the accuracy or completeness of such information. This Information does not constitute investment, legal, accounting, regulatory, taxation or other advice and the Information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Information. For further information on fund risk factors (including, among others, country risk, regulatory risk, operational and technical risk, contract risk, litigation risk, demand and user risk and counterparty risk) please refer to the Private Placement Memorandum. This Information is confidential and should not be distributed or provided to any other person without the written consent of IFM Investors.

1 Based on a EURUSD exchange rate of 1.2247.

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SOURCE IFM Investors

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