MADRID, 3 (EUROPA PRESS)
FCC has successfully completed the subscription of the entire capital of 709 million euros has launched to reduce its debt and recapitalize, an operation that will allow Carlos Slim gain control of the construction company and services.
Slim, the largest shareholder of the group, and Esther Koplowitz, second partner, have signed all new shares of enlargement due to them under the shares of 27.4% and 22.4% respectively have in FCC that, according to the company.
However, the Mexican businessman could have taken additional securities linked to their percentage, as listed as the guarantor of the whole operation expansion and also finances Esther Koplowitz to take the titles that correspond.
Slim has also been buy rights to subscribe for shares or have acquired directly FCC shares traded.
Given these assumptions, Slim might have exceeded the level of the 30% stake in the construction company and would have to launch a tender offer acquisition of shares (OPA) for the entire company.
the possibility of a takeover bid Slim figure made in the prospectus for the capital increase. In addition, Slim managed ‘green light’ Esther Koplowitz to undertake the eventual deal with the agreement signed with businesswoman before FCC launched enlargement.
Under this pact, Koplowitz agreed to delete the limitation not to exceed 29.99% the first two FCC shareholders were imposed in 2014 when Mexico joined the group, given the need to make the construction of the extension to complete its reorganization.
RESOURCES tO COMPLETE SANITATION.
of the 709 million expansion, the construction will allocate about 365 million to liquidate the bulk of a stretch of debt generates an interest of 5% and entitles the banks to redeem the shares liability in case of default at maturity in 2018. 300 million were used in the cleanup of the subsidiary Cementos Portland.
the agreement between Slim and Koplowitz and contemplates that the Mexican double its representation on the board of FCC, since it will have eight seats, compared to the current four. One of the new jobs will be for the CEO, Carlos Jarque, who thus enter into the highest management body of the company.
For his part, Esther Koplowitz keep four chairs the council, one of including that of the non-executive chairman, Esther Alcocer Koplowitz.
for now, once signed the extension, partners FCC have within five days to submit their percentages in capital the company after the capital increase.
FCC has signed the entire operation in the preferential allocation period, which has not had to open the discretionary allocation. From now on, the group will proceed to disburse and register in the register operation, which will culminate next Monday, March 7, when the new shares begin trading on the Stock Exchange
.
No comments:
Post a Comment