Carlos Slim Becomes Main Shareholder in Fomento de Construcciones y Contratas

Mexican billionaire Carlos Slim will become the main investor in Spanish builder, Fomento de Construcciones y Contratas (FCC), after he reached a deal with the firm’s owner Esther Koplowitz to take on all of her rights to acquire shares in a capital hike aimed at paying down debt.

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Koplowitz is Vice-President of the Board of Fomento de Construcciones y Contratas (FCC), one of the leading diversified Spanish groups, employing around ninety thousand people. She also holds board positions in several national and international companies, for instance Vice-President of the board of Cementos Portland Valderrivas and formerly board member of French multinational Veolia Environnement.

In a statement to Spain’s stock market regulator, FCC said Slim’s Inmobiliaria Carso would hold a 25.634 percent stake in the company following the capital increase while Koplowitz will see her stake reduced to 22.433 percent from just above 50 percent now.

Both shareholders have also agreed not to sell 85 percent of their shares for a minimum of 4 years and they will each appoint four members to a 12-strong board.

Puerto Vallarta News

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