OHLA - comment
As the proposed Atitlan stake of 36.1% in OHLA would be split between them and Stoneshield (a separate hedge fund), CMVA approval will not be acquired. The deadline for a response from the OHLA board is 5 July (tomorrow), but Atitlan could choose to extend. The Amodios will oppose this plan as they would no longer be the largest shareholder, but we expect the banks to push for a more comprehensive solution (€75m now and a Rights Offer for €75m more).