OHL Group has announced that it has sold the majority of its stake in the concessionaire Metro Ligero Oeste SA.

Until now OHL controlled the majority of the shares, 51%, and the infrastructure group has confirmed the sale of 28% of the company.

According to a vice president of OHL, there is an agreement since last October although the company has declined to reveal the buyer. He also has advanced that the transaction will be definitely closed in the coming weeks for an amount which has not been either disclosed. The transaction is pending an approval from a third party.

Metro Ligero Oeste SA runs the ML2 and ML3 light rail lines connecting the towns of Pozuelo (ML2) and Boadilla del Monte (ML3) to the Metro de Madrid subway network at the Colonia Jardín station (Line 10), servicing one of the largest areas of growth in the Community of Madrid.

The ML2 Line has 13 stops, while the ML3 has 16. Thanks to its connection to the Metro de Madrid subway and the Renfe Commuter Train networks, Metro Ligero Oeste integrates an important urban population area within the towns of Pozuelo de Alarcón, Boadilla del Monte and Alcorcón, benefiting a population of 123,000 inhabitants.

Last spring, the Canadian fund Bastion and the insurance Allianz acquired a 19% stake in the company managing the project from Catalan construction company Comsa Emte, who has had this asset for sale for nearly four years. Ahorro Corporacion owns the 30% remaining capital of the project.