El Cóndor signed an offer to buy up to 48% of the Pacífico Tres Concessionaire

El Cóndor signed an offer to buy up to 48% of the Pacífico Tres Concessionaire
El Cóndor signed an offer to buy up to 48% of the Pacífico Tres Concessionaire

Construcciones El Cóndor announced that a non-binding offer was accepted to acquire up to 48% interest in the capital and subordinated debt of the “Company in the Pacífico Tres Concessionaire Company (Concessionaire under the Concession Contract of the Pacific 3 4G project)”.

This non-binding offer granted the construction company a period of exclusivity of 60 days: during this period the terms of this transaction must be agreed upon. Once the two months have passed, the presentation of a sales document is expected.

“For the structuring and development of this operation, the Company has had the support of the investment banks BNP Paribas and Banca de Inversión Bancolombia. If the closing of the transaction is successful, the resources obtained from it will go towards the payment of the Company’s obligations with its financial creditors, which is part of the Company’s divestment plan, aimed at reducing the leverage,” the company said.

It is important to remember that Construcciones El Cóndor achieved income from ordinary activities that reached $303,702 million in the first quarter., which represented an increase of 38% compared to 2023. The company assured that it had an increase in billing of $84,000 million.

This increase in billing is due to an increase in billings for the construction contracts of the Magdalena 2 and Ruta al Sol projects.

 
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