FCC investor George Soros offers Koplowitz EUR 1.5bn as capital injection
George Soros has offered Esther Koplowitz EUR 1.5bn as capital injection in FCC and additional investment in B-1998, a vehicle through which the Koplowitz family holds a majority in the Spanish infrastructures group.
Soros' proposal has a discount of 40% on FCC's stock value, the Spanish-language report said, citing chief investment officer of Soros Fund Management, Scott Bessent.
Bessent is in charge of discussions with BBVA, Bankia and Koplowitz's advisers, Messier Maris & Associes.
Koplowitz and the lenders had initially rejected Soros' offer but talks continued, the report said. Without additional cash, B-1998 will default on 31 July on its EUR 1bn debt with BBVA and Bankia and the banks will execute loans to the Koplowitz family, which would lose control of FCC, the report said.
Source El Confidencial