Fomento de Construcciones y Contratas, S.A. has signed a contract to acquire an additional 17% stake in Cedinsa Concesionaria S.A for €58 million.
November 19, 2019
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Fomento de Construcciones y Contratas, S.A. (BME:FCC) has signed a contract to acquire an additional 17% stake in Cedinsa Concesionaria S.A for €58 million on November 20, 2019. Post completion, Fomento de Construcciones y Contratas, S.A. will hold 51% stake in Cedinsa Concesionaria S.A .The transaction is subject to compliance with certain suspensive clauses.
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. 
