September 18, 2017 / 6:28 AM / a year ago

Spain's Villar Mir in talks to sell OHL to China State - report

MADRID, Sept 18 (Reuters) - The Villar Mir family, which holds a 51 percent stake in Spanish builder OHL, is in advanced talks to sell the company to China State Construction Engineering, online newspaper El Confidencial said on Monday.

The potential deal comes as creditors increase pressure on the family over mounting debts, the report said, citing unidentified sources close to the talks.

Credit Agricole, Santander, HSBC and Deutsche Bank have warned Grupo Villar Mir that the company has short-term debt obligations worth some 500 million euros ($597 million), it said.

OHL, Grupo Villar Mir and China State Construction Engineering were not immediately available for comment.

$1 = 0.8372 euros Reporting by Tomas Cobos; Writing by Paul Day; Editing by Mark Potter

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