FCC, Seeks to Acquire 24% of the Real Estate Company Metrovacesa
- The Mexican company FCC, controlled by Carlos Slim, has launched a public offer to acquire a 24% stake in the Spanish real estate company Metrovacesa, with the potential to increase its ownership to 29%.
- The offer, valued at 284 million euros, aims to expand FCC's presence in Metrovacesa and reduce the influence of Spanish banks Santander and BBVA, who currently control the majority of the company.
Fomento de Construcciones y Contratas (FCC), whose majority control is held by Mexican tycoon Carlos Slim, has launched a Public Acquisition Offer (OPA) for a 24% stake in the Spanish real estate company Metrovacesa, as reported by Spain's main stock market regulator.
The operation, valued at 284 million euros (around 313 million dollars), would increase FCC's stake in Metrovacesa from the current 5.4% to 29%. Currently, the majority ownership of the company lies with Spanish banks Santander and BBVA.
"The offering company and its controlling partner may reach a maximum stake of 29.4% of Metrovacesa's share capital through the offer (including the existing 5.4% ownership)," stated the document submitted to Spain's National Securities Market Commission.
