Chinese conglomerate HNA Group has set its sights on buying Spanish construction heavyweight OHL, hoping to create a world-giant after possibly merging OHL with another company in this sector. The most likely candidate has been identified as Isolux, which was approached by the asian business group in June 2016.
OHL’s board have said that they “have not had any contact with HNA. Any buyer would go directly to our principal stockholder which is the Villar Mir Group”. Sources inside Isolux have admitted being in contact with the Chinese group last summer, although no new conversations have yet been established.
HNA has kept a defensive posture as it continues to weigh its strategies in these conversations with several Spanish businesses, which may explain why none of the numerous offers announced in the past months have come to fruition, including the alleged offer made late last year to purchase 40% of OHL from their parent group.
Full Content: El Confidencial
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI