OHLA - comment

It didn’t take long for the shareholders at OHLA to fall out. A potential €20m cash restriction would explain why the €50m convertible was still on the table after the successful equity raise. If issued, the Amodio brothers would cease to be the largest shareholder. A French court will likely allow Kuwait to call on €40m in Guarantees given by BNP (as guarantor for OHLA). The potential restriction of €20m in cash is nowhere near fatal for OHLA, but it is a headache.