FCC investor George Soros in talks to acquire majority -
George Soros is in talks to buy a majority stake in the Spanish construction group FCC [MCE:FCC] via a capital increase in FCC majority stakeholder B 1998, reported El Confidencial, citing sources with knowledge of the discussions. B 1998, which holds 50.01% of FCC, is the vehicle of Spanish investor Esther Koplowitz.
Koplowitz is trying to restructure EUR 1.1bn personal debt related to FCC stock acquisitions, the Spanish-language report said. B 1998 debt holders BBVA and Bankia are urging Koplowitz to accept a EUR 600m capital injection from Soros, who currently owns a minority stake in FCC, the paper said.
Koplowitz, advised by Messier Maris & Associes, only wants EUR 400m and to maintain control of both companies, the report noted. Guggenheim is also involved in the discussions, the item added.
Source El Confidencial