Author: XOAN A. SOLER
The Spanish company is giving entry to a Canadian partner, but will retain control of the shares
FCC signed an agreement to sell 24.99% of the capital of its subsidiary FCC Servicios Medio Ambiente to the Canadian company CPP Investments for a total of 965 million euros, the company reported to the National Securities Market Commission (CNMV). The Spanish company, which is controlled by Mexican company Carlos Slim, will retain shareholder control of the division, with 75.01%.
FCC pointed out that the main destination of the funds obtained from this transaction will be to meet the strategic opportunities and corporate needs of the group.
After the entry of a new partner, the ecological subsidiary envisages the continuity of the current strategy, the maintenance of business and commercial relations, as well as the continuity of the management team.
Source: La Vozde Galicia
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
