Link Securities | The company informed the National Securities Market Commission (CNMV) that it has completed the sale of 25% of the capital of its subsidiary FCC Servicios Medio Ambiente Holding, S.A. (FCC Enviro) to CPP Investments for €1 billion.
In this regard, the financial portal Bolsamania.com explains that, following the transaction, FCC retains a majority stake in FCC Enviro with 50.01%, while CPP Investments, which was already a shareholder, increases its stake to 49.99%.
FCC Enviro and its subsidiaries, both nationally and internationally, carry out environmental services activities through four main platforms: Atlantic (Spain, Portugal and France), UK, CEE and USA.
In addition, the media outlet notes that, despite the changes in shareholding, FCC Enviro plans to continue its current strategy, maintain its operations and commercial relationships with public administrations, private clients and suppliers, and strengthen and develop its activities, with the active participation and synergies derived from the entry of CPP Investments and the continuity of the management team.
FCC also stated that the funds obtained from the transaction will be used to address strategic opportunities and corporate needs of the group. At the time, FCC specified that the closing of the transaction was subject to the usual conditions, including authorisations in relation to competition and foreign investment, requirements that have already been met with the completion of the sale.
