31-07-20: FCC has agreed with Icon Infrastructure Partners the sale of a 49% minority stake of the new subsidiary Green Recovery Projects Limited
July 31, 2020 at 01:26 pm EDT
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INSIDE INFORMATION
Madrid, 31st July 2020. Pursuant to article 226 of the consolidated text of the Securities Market Law, approved by Royal Legislative Decree 4/2015 of 23 October, Fomento de Construcciones y Contratas, S.A. ("FCC") hereby discloses the following inside information (información privilegiada):
FCC has agreed with Icon Infrastructure Partners (Icon) the sale of a 49% minority stake of the new subsidiary Green Project Limited (GRP), owner of five energy-from-waste (EfW) facilities in the United Kingdom and a branch of Waste Recycling Group. The key issues of this operation are:
The Price to pay for the 49% of the future parent Company of these assets on behalf of Icon amounts to 198 million sterling pounds, resulting in 650 million sterling pounds at a 100% valuation, including debt.
The EfW facilities are located at Kent, Nottinghamshire, Buckinghamshire, Edinburgh and Lincolnshire.
The parent Company of the activity, FCC Servicios Medio Ambiente Holding will retain the control of the new subsidiary and its global consolidation, as well as 50% stake in the Mercia incinerator and 40% in Lostock facility.
The closure of the operation is subject to the corresponding regulatory authorities.
The inclusion of Icon to GRP will reinforce FCC's leadership position in the waste recovery activity in the UK and will enable the development of new treatment facilities, essential to accomplish the green transition challenge and to boost circular economy.
Capital Markets Department ir@fcc.es +34 91757 47 51
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FCC - Fomento de Construcciones y Contratas SA published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 17:26:09 UTC
Fomento de Construcciones y Contratas SA (FCC) is a Spain-based company primarily engaged in the provision of environmental services. The Company's activities are divided into four business areas: Environmental services, Construction, Water management and Cement. The Environmental services division focuses on street cleaning, maintenance of urban parks and gardens, industrial waste management, waste treatment and recycling, among others. The Construction division offers engineering and construction of civil works, such as roads, railways, airports and hydraulic projects, as well as residential and non-residential buildings. The Water management division operates an integrated water management cycle, which includes intake, purification, treatment and distribution of the waste water. The Cement division manufactures cement, concrete, aggregate and mortar. The Company operates through numerous subsidiaries in Europe, the Americas, Africa and the Middle East region.