China State Construction Engineering Corporation (CSCEC) has expressed interest in buying into Spanish infrastructure group OHL, which includes a Mexican airport concession and various airport construction projects in its portfolio.
The approach was reported to the Spanish financial regulator, Comisión Nacional del Mercado de Valores (CNMV), on 18 September.
OHL announced that no firm offer has been made, and it declined to say how much of a stake CSCEC wants to acquire. A spokesperson for OHL said there were no other interested parties at present.
Market analysts value OHL at about EUR1 billion (USD1.2 billion). It is majority-owned (51.12%) by Grupo Villar Mir.
CSCEC is one of the biggest construction companies in the world, operating in China and about 20 other countries. If the deal goes ahead, it would be the first venture into Europe for CSCEC.
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