October 10, 2018 / 5:03 PM / 11 days ago

CORRECTED-BRIEF-OHL Sells Urban Development Project In Mexico For 96.9 Mln Euros

(Corrects figure in headline)

Oct 10 (Reuters) - Obrascon Huarte Lain SA:

* SELLS URBAN DEVELOPMENT PROJECT KNOWN AS “MAYAKOBA CITY” FOR ABOUT 96.9 MILLION EUROS

* CLOSING OF TRANSACTION EXPECTED BEFORE DEC. 31, 2018 AND WILL CONTRIBUTE AN ESTIMATED NET CASH AMOUNT OF ABOUT 88.1 MILLION EUROS

* TRANSACTION RESULTS IN AN ESTIMATED LOSS OF APPROXIMATELY 35.8 MILLION EUROS

* TRANSACTION IS PART OF ASSET DIVESTMENT PLAN INCLUDED IN CO’S BUSINESS PLAN AND IMPLIES FULL EXIT FROM MEXICAN REAL ESTATE MARKET Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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