×

ICA Confirms Sale of OMA Shares Pledged as Collateral

MEXICO CITY, Feb. 02, 2016 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, confirmed today that Deutsche Securities, S.A. de C.V., Casa de Bolsa (“Deutsche Bank”) foreclosed on collateral in the form of OMA Series B shares pledged to secure a loan to ICA’s wholly-owned subsidiary, Aeroinvest, after a Mexican federal judge granted Deutsche Bank a suspension of the injunctions sought by ICA related to the pledged shares. In connection with the foreclosure on the pledged shares, Deutsche Bank sold a total of 33,162,600 OMA Series B shares, representing 8.29 % of OMA’s equity capital in the form of Series B and Series BB shares.

Excluding the shares referenced above, ICA holds a 17.23 % ownership interest in OMA in the form of Series B and Series BB shares, directly and indirectly, through Aeroinvest and SETA. ICA is not in default under any other loan agreement subject to a pledge of OMA shares.

This press release contains projections or other forward-looking statements related to ICA that reflect ICA’s current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA’s businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.

Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.mx.


For more information, please contact: Gabriela Orozco gabriela.orozco@ica.mx relacion.inversionistas@ica.mx +(5255) 5272 9991 x 3012 Pablo Garcia Chief Financial Officer pablo.garcia@ica.mx In the US: Daniel Wilson, Zemi Communications +(1212) 689 9560 dbmwilson@zemi.com

Source: Empresas ICA, S.A.B. de C.V.