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OHL acquires control over Polish engineering firms for PLN 0.5bn


2010-12-30



Obrascon Huarte Lain (OHL), a Spanish construction and utilities group, has agreed to buy just over 50% of shares in Hydrobudowa Polska, the listed engineering firm, and Aprivia, a road construction company, for PLN 506m (approx. €127m). The selling party is PBG, one of Poland’s leading construction and engineering groups.

The transaction is part of a wider strategic alliance between OHL and PBG, which are already bidding jointly for PLN 5bn (€1.3bn) worth of road- and water engineering contracts in Poland. It will significantly strengthen PBG’s hand in these areas and bolster its plans to expand into the operation of motorways and to pursue oil and gas projects abroad. For OHL, the acquisition of Hydrobudowa provides a convenient stepping-stone for expansion into other markets of Central and Eastern Europe.



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