Friday, July 22, 2016

Slim is made with a 25.66% over FCC in opa – Yahoo Finance Spain

MADRID (Reuters) – The offer that the Mexican magnate Carlos Slim introduced to increase its controlling position in the Spanish company FCC was accepted by 25.66 percent the capital of the company.

Given that Slim offered 7.6 euros per share in the offer, the cost of the operation was just under 739 million euros, according to Reuters calculations.

Slim, who controls eight of the 15 directors of the construction, already had before the takeover control 33 percent of the capital but 53 percent of the voting rights after participating twice in capital bailout to refinance the debt mountain group, supporting even the until recently largest shareholder and daughter of the founder, Esther Koplowitz.

the employer is now also the largest shareholder of the real estate subsidiary Realia after capitalize credits and sanearla in the revival of the sector and is also on the table a takeover bid exclusion cement leg Cementos Portland, also with a heavy financial structure.

the group offers 6 euros per share cement, well below the price that is valued FCC its stake in the subsidiary, and the CNMV asked for explanations from FCC for the price of the operation.

the group, which lost in the first quarter 16 , 7 million, still has pending a new refinancing a debt of 4,700 million euros

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