The end of an era that has lasted 33 years is confirmed. The Villar Mir family will cease to be in charge of OHL after Juan Villar-Mir has transferred the presidency to Luis Amodio, a Mexican businessman who has become, together with his brother Mauricio, the maximum shareholders of the Spanish construction company. But Villar-Mir will not leave the company and will remain as first vice president of the board of directors.
Therefore, the former First Vice President, Silvia Villar-Mir, He has also resigned his position so that his brother can occupy it, according to the statement he has sent to the National Commission of the Stock Market. In her case, she will become a proprietary director. OHL thanked the two members of the Villar-Mir family "for the work carried out in the exercise of their respective positions."
Juan Villar-Mir inherited in June 2016 the non-executive presidency of OHL, after his father, Juan Miguel Villar Mir, decided to retire at the age of 84 (he has been in office since 1987). He has been working for the Spanish construction company for more than 30 years and in 1996 he joined the board of directors as first vice president.
During these four years he has worked closely with three different CEOs: Tomás García Madrid, Juan Osuna and José Antonio Fernández Gallar. At the moment, the latter remains in his post after the arrival of the Mexican brothers.
The change in the presidency comes after Juan Villar-Mir welcomed the Amodio family at the shareholders' meeting held this Monday. Despite knowing then that he was going to resign his position, since it is not a decision to be made overnight, he has sent a message of "illusion" before a new stage in which they will pursue "continue contributing to the growth of society thanks to the development of large infrastructure projects. "
The Amodio brothers were appointed members of the board of directors after becoming the benchmark shareholder after spending 50.43 million to buy 16% of the share capital of the Villar Mir Group. Even so, they still have to exercise their mandatory option to acquire an additional 9% before November 22, 2020, to raise their participation to 25%.
The operation was closed at the end of May, after arduous talks with the Villar Mir family. The first option was the merger of the Caabsa group, owned by the Mexican family, and OHL. Finally, this operation did not come to fruition. Finally, although with the predisposition shown by both parties to reach an agreement, the transfer of 25% of the company was closed.
The Mexican family made it clear from the beginning that it had not invested in OHL to have a testimonial role. In a statement sent the same day that the acquisition was closed, they were convinced "to be able to contribute all our experience, values and ability to shore up the future of OHL as a player of global excellence".
Its main objective is to restore OHL its viability in the short term, as well as reactivate its financial capacity and business prestige. "To achieve this, the CEO of the construction company, José Antonio Fernández Gallar, explained at the shareholders' meeting that they plan to achieve sales of more than 4,000 million euros in the medium term, enhancing its concession business.
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