Control Empresarial de Capitales acquired stake in Fomento de Construcciones y Contratas

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Control Empresarial de Capitales has made an offer to acquire the remaining stake in Fomento de Construcciones y Contratas (FCC).

Control Empresarial de Capitales, completed the purchase of a 25.66% ownership interest in FCC for an estimated value of around US$740 million. The acquisition of the remaining shares will be executed at a price of US$7.6/share, with Caixabank providing a bank guarantee of US$1 billion, and Banco Santander offering a guarantee of US$529.6 million. 

Holders of each convertible bond of FCC will receive 2,564 common shares. The transaction has been approved by Spain's competition watchdog, and approval from the Mexican competition watchdog is still pending. Fomento de Construcciones y Contratas SA's Board of Directors has accepted the takeover bid. Credit Suisse AG was supported by Linklaters as the legal advisor, while Santander acted as the financial advisor for Inmobiliaria Carso, S.A. de C.V., the parent company of Control Empresarial de Capitales.


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