Fomento de Construcciones y Contratas S A : Esther Koplowitz agrees cancellation of €843.4 million debt. Inversora Carso increases ownership interest in FCC by 15.4%
June 11, 2020 at 06:18 am EDT
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Spanish entrepreneur Esther Koplowitz has cancelled FCC's entire debt of €843.4 million backed by 60.54 million shares of FCC at maturity. The debt, which fell due on 30 April this year, was arranged originally with BBVA and Bankia but acquired by Inversora Carso on 17 May 2018 for €599 million. The agreement includes the transfer of all the FCC shares pledged, worth €524.9 million at the maturity of the debt, to Inversora Carso, which is considering granting a call option on 5% of the FCC shares to Esther Koplowitz.
Inversora Carso's stake in FCC post-agreement stands at 76.6%, while Esther Koplowitz retains a 4.6% shareholding and four seats on the Board of Directors.
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FCC - Fomento de Construcciones y Contratas SA published this content on 11 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2020 10:17:00 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.
Fomento de Construcciones y Contratas S A : Esther Koplowitz agrees cancellation of €843.4 million debt. Inversora Carso increases ownership interest in FCC by 15.4%
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A. 
