New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 3, 2012
07:15 EDTICAJaver and Empresas ICA announce agreement to combine housing companies in Mexico
Servicios Corporativos Javer and Empresas ICA announced that they have entered into a definitive agreement to combine their homebuilding assets in Mexico, creating the second largest homebuilder in the Infonavit system. Javer will acquire the assets and operating liabilities related to 20 affordable housing development projects being developed by ICA through its ViveICA subsidiary in exchange for newly issued shares of stock representing a 23% ownership interest in Javer, plus the refinancing of 600M Pesos of associated project debt.
News For ICA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 3, 2016
05:10 EDTICAEmpresas ICA confirms sale of OMA shares pledged as collateral
Empresas ICA (ICA) confirmed that Deutsche Securities, S.A. de C.V., Casa de Bolsa 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 (DB) 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.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use