Carlos Slim expands his control over FCC up to 81.5% of its share capital

Mexican billionaire Carlos Slim expanded his control over the Spanish construction company FCC to 81.49% of its capital. In this way, the company’s floating capital is reduced to only 4.7%. The businessman became the majority shareholder of the construction company in 2016.

This modification of the company’s shareholding structure is a consequence of the self-takeover bid that the company launched last August to acquire its shares from shareholders in exchange for a consideration of 12.5 euros. Since 4.5% of the shareholders accepted the offer and sold their securities to the company – at the same time that the Mexican did not sell any shares – their controlling interest has increased proportionally without having to make any disbursement. . personnel in the purchase of new shares.

In fact, the consideration has been made with part of the 400 million euros that the company received from the sale to CPP Investments of 24.99% of the capital of its subsidiary FCC Servicios Medio Ambiente. Likewise, the price of the shares in the market has already risen more than 22% compared to the 12.5 euros paid in the takeover bid or up to 65.5% compared to the 9.23 euros at which the company was listed. on the stock market just before announcing the operation last June.

The value of the construction company is 7,000 million.

In the records of the National Securities Market Commission (CNMV), there is an 84.7% total participation for Slim, since it includes 3.2% in the hands of Esther Koplowitz, first vice president, whose shares are pledged in favor of the Mexican for some loans. . worth 202 million euros. However, she does not have the right to those titles, so her participation is limited to 81.5%. With all this, at current trading prices, Carlos Slim e’s shares are valued at around 5,700 million euros, compared to a total value for the company on the stock market of 7,000 million euros.