The Mexican tycoon Carlos Slim , one of the first fortunes in the world, El Salvador becomes one of the great magnates of Spain and also a major construction companies.
Slim will be the new prime shareholder of Fomento de Construcciones y Contratas (FCC), the infrastructure company controlled by Koplowitz family for six decades. Representatives of Koplowitz and Slim have reached an agreement for end the saga of the last two weeks in which there was a failed previous attempt with funding from the US financier George Soros.
The agreement, whose details will be communicated to the Comisión Nacional del Mercado de Valores (CNMV) shortly imply a radical reduction in the share of Koplowitz, which controls 50.01% of the capital, for the Carso Group, controlled by the Slim family. The Mexican group will take over 25% of capital , slightly below the Spanish tycoon, according to sources familiar with the deal. The CNMV objected to both partners reach a joint agreement and equal participation to jointly control group without launching a Public Tender Offer for Shares (OPA).
Based participation assume Slim, disburse more than EUR 650 million . Of these, about 500 in the capital of FCC and the rest payment Koplowitz to assume their subscription rights. Your entry will be through a capital increase with double positive effect Koplowitz . On the one hand, by selling rights to the capital of FCC mogul leave his current situation of default on their personal debt with creditors BBVA and Bankia and prevent the seizure of their properties.
On the other the entry of Slim is a capital injection for FCC , which is also pending negative oxygen that allows bolster its strategic plan and standardize its financial relationship with the bank assets.
The landing implies that Slim gets half of the 1,000 million capital increase under FCC, which facilitates the group led by Juan Béjar the task of getting investors to complete.
The news that the deal was finalized yesterday rushed and rise in the stock market higher FCC to 3%. closed at 15.5 euros per share, above the 14.63 recorded on day 14, when Koplowitz announced the start of his talks with Soros. The market valued yesterday at 1.948 million old builder acquired by Ernesto Koplowitz in 1952.
FCC announced last Monday breakdown of negotiations of its main shareholder, Esther Koplowitz, with Soros and the opening of talks with the Carso Group, owned by the Slim family. “Following the Relevant Event dated November 14, 2014, the controlling shareholder of FCC has informed us that has ended the exclusivity granted to Soros Fund without having done deal for your investment” FCC said. But he hastened to announce an even more important partner: “However, the eventual acquisition of rights to subscribe for FCC corresponding to B1998 [the equity of Koplowitz], directly or indirectly, within the framework of the capital increase approved by the Board dated November 20, 2014, is now traded on an exclusive basis with Corporate Control Capital SA de CV, a company belonging in its entirety to Inmobiliaria Carso SA de CV which in turn estácontrolada by the Slim family. “
The sources claim that the conversations with Slim have been easier than with Soros and suggest that Mexico already showed interest in a while.
With Slim, FCC will in its capital to two of the first fortunes of the world, since the founder of Microsoft, Bill Gates keeps 5% of capital construction group .
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