Spanish infrastructure firm FCC last week said in a statement to the stock market regulator that creditors of its infrastructure unit Globalvia had taken over the company, exercising their preferential right to buy its shares.
The transaction needed that the funds USS, OPTrust and PGGM, which currently hold a €750 million convertible bond, renounce to acquire Globalvia's shares. But finally, they decided to convert the bond into shares.
Khazanah Nasional Berhad was supposed to pay €166 million (US$184.4 million) in a first payment and a maximum of €254 million (US$282.1 million) in a second payment in 2017, which depended on the final company valuation.
Globalvia's portfolio boasts a high degree of product diversify and includes a significant number of assets. The firm's portfolio is composed by 19 highways, 8 railways, one airport, two hospitals and two ports in seven countries: Spain, Ireland, Portugal, Andorra, Mexico, Costa Rica and Chile.