Friday, December 19, 2014

(Exp.) FCC completes the extension with which Carlos Slim has … – Yahoo Finance Spain

(Exp.) FCC completes the extension with which Carlos Slim has … – Yahoo Finance Spain

MADRID, 18 (EUROPA PRESS)

FCC has completed the subscription of the capital increase of 1,000 million euros with which Carlos Slim has entered the group and became its largest shareholder with a stake of 25.6%.

The 133,260,000 shares issued by the company as part of the operation have been fully subscribed , as indicated by the company headed by Esther Alcocer Koplowitz to the Comisión Nacional del Mercado de Valores (CNMV).

In the coming days, FCC held the public deed and registration of the operation in the Commercial Register so that the new group titles commence trading on the Stock Exchange on 22 December, which will complete the operation.

The businessman Carlos Slim and notified on Monday that it had signed half of the shares He issued the extension, which materialized so its entry into the group as the first partner with a 25.64% stake.

The magnate did so effective the agreement reached last week with Esther Koplowitz, for which he bought businesswoman all subscription rights it had in the expansion in terms of 50.1% so far had in FCC. After enlargement, this percentage will be diluted to 24.3%.

The sale of rights is in turn part of the agreement Koplowitz closed their banks to refinance your personal debt, linked to investment in FCC.

CLOSING OF RESTRUCTURING.

In parallel, to complete the capital increase, the construction and services group managed to almost close the process of reorganization and restructuring undertook in 2013 and begin 2015 a new phase of growth.

In particular, the total capital raised on enlargement, 765 million euros will be used to repay after a haircut of 15%, a stretch debt of 1,300 million euros generated by high and rising interest rates, and also entitles banks to capitalize on the horizon of 2018.

The rest of the funds, FCC allocated 100 million its subsidiary Cementos Portland cement and 100 million to the British services FCC Environment

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