Mota-Engil participates in the financing of 90 million euros for the Spanish company Duro Felguera. The loan is being executed by Mota-Engil Mexico, with the construction company led by Carlos Mota dos Santos (pictured) owning 51% and Grupo Prodi Mexico the remaining 49%, and by Grupo Prodi individually, according to a statement. This Tuesday I sent the exhibition by Doro Felguera to the Comisión Nacional del Mercado de Valores (CNMV), the market regulator in Spain.

The just-announced Memorandum of Understanding states that Mota-Engil Mexico and Prodi Group will provide €90 million to the Spanish construction company.

According to the statement, Grupo Prodi and Mota-Engil Mexico intend to become “industrial partners of Duro Felguera on a permanent basis,” and commit to maintaining their holdings for a minimum of four years. The loan will be 50 million euros by Grupo Prodi and 40 million by Mota-Engil Mexico and the companies will ask CNMV not to force them to launch a public takeover offer (OPA).

After the capital increase to be made to consolidate the loan, the Prodi Group will own approximately 31% of the voting rights in Duro Felguera, while Mota-Engil Mexico may have a position of up to 24%, depending on the subscription of the existing shareholders of the construction company. Spanish capital increase.

Thus, the Mexican group and Mota-Engil Mexico will be able to control a maximum of 55% of the voting rights of the Spanish company, in concert.

Since Mota-Engil owns 51% of the capital of the joint venture in Mexico, the Portuguese construction company’s position in Duro Felguera could be around 12%.