FCC

World economy 23rd January 2024

FCC, Italy’s Webuild, and US firm Aecom to carry out several projects on Toronto’s underground network for €1.362 million

Link Securities| FCC has been awarded a new contract in Canada to build new tunnels and stations in the Toronto underground network, a project that the infrastructure department of the province of Ontario estimates at up to €1.362 million, the digital portal CapitalBolsa.com reported. Specifically, the Spanish construction company will build, in consortium with the Italian company Webuild and the US company Aecom, three kilometres of twin tunnels on Papa…

Relevant News Item 2nd December 2023

Provisional figures for FCC’s takeover bid for 7% of treasury shares show a take-up of 2.36% of the share capital

Banco Sabadell| FCC has announced that it has received provisional declarations of acceptance representing 2.36% of the capital for its takeover bid for 7.01% of its own shares (€12.50/share). It should be remembered that the acceptance period ends on 30 November ’23. Valuation of the analysis team: News with little impact. The increase in the number of declarations of acceptance registered yesterday (from 0.74% to 2.36%) could be due to…

In Spain 7th September 2023

Koplowitz raises her stake in FCC to 4.64% with shares from flexible dividend and redemption of own shares

Alphavalue / Divacons | Esther Koplowitz has increased her stake in FCC to 4.64% of the capital, which is a new high for the businesswoman since Mexican tycoon Carlos Slim took control of the company. As recorded in the records of the National Securities Market Commission (CNMV), the increase is in response to the delivery of shares as part of the flexible dividend and the redemption of own shares carried…

In Spain 30th August 2023

FCC requests authorisation to buy back up to 7% of its capital for more than €400 M, with a premium of 38%

Link Securities | In a Significant Event sent to the CNMV, FCC yesterday requested authorisation for the repurchase of up to 7% of its capital, an operation announced last July after receiving no opposition from any creditor. The company has received letters from the company’s main shareholders, Carlos Slim and Esther Koplowitz, stating that they will not accept the offer. The group’s Board of Directors approved a takeover bid to…

Relevant News Item 2nd August 2023

FCC negotiates purchase of Urbaser’s Scandinavian subsidiary in operation valued at €300m

Banco Sabadell : According to press reports, FCC is negotiating with Urbaser the acquisition of its environmental services business in Scandinavia (Sweden, Norway, Denmark and Finland). The operation, which is in its final phase, could be valued at over €300 million. According to the same source, Urbaser Nordic’s business generates an EBITDA of around €40m (~2.8% of FCC). Assessment: Pending further details, the deal could be a good strategic fit…

European economy, In Europe 19th April 2023

Técnicas Reunidas and FCC to build €1-billion regasification plant in Germany

Técnicas Reunidas, FCC and the Turkish company Enka have been awarded a contract worth around 1,000 million euros for the construction of a liquefied gas regasification plant for Hanseatic Energy Hub in the port of Stade, in the Haburg region. This terminal will be built next to a plant of the chemical giant Dow Chemical to utilise its industrial heat. It will be erected at full speed, with the aim…

Companies, Spanish economy 13th April 2023

FCC Ámbito allies with Iberdrola and Glencore to operate lithium-ion battery recycling factory in Spain and Portugal

Alphavalue / Divacons | FCC Ambito, a subsidiary of FCC Servicios Medio Ambiente, and Iberdrola, through its Perseo Venture Builder programme, will work with Glencore to provide industrial-scale lithium-ion battery recycling solutions in the Iberian Peninsula through the development of a specialised facility, the three companies announced yesterday. At the factory, whose location is yet to be defined, these energy storage devices could find a second life. Recycling of battery…

Companies, Spanish economy 1st March 2023

FCC initiates contacts to refinance Environment subsidiary bond for €600 million

Link Securities | FCC (FCC) has initiated contacts with financial institutions and investors to refinance the bond of its Environment subsidiary for an amount of 600 million euros that matures next December, as reported on Monday by the newspaper elEconomista. The construction and services group is exploring different alternatives given the current market circumstances, with the rise in interest rates as the main conditioning factor. The first option is to…

Companies, Ibex, Spanish economy 14th December 2022

ACS, Acciona consortium goes up against FCC in one of the biggest tenders currently in the UK; the remodelling of the Haweswater Aqueduct

Link Securities | The alliance of ACS and Acciona is going up against FCC in one of the biggest tenders there are currently in the UK: the remodelling of the Haweswater Aqueduct, located in the north east of England, according to elEconomista.es. The Spanish firms form part of the terna selected by the UK water company United Utilities to bid for the contract for the design, construction, financing and maintainenance,…

Spanish economy 8th July 2022

CNMC Fines Major Spanish Construction Companies 203 Million Euros For Sharing Contracts Until 2017

The National Markets and Competition Commission (CNMC) has fined six of Spain’s leading construction companies 203.6 million euros for having altered thousands of public tenders for building and civil works infrastructure contracts over 25 years. The companies penalised are Acciona, Dragados, FCC, Ferrovial, OHLA and Sacyr. According to the CNMC, between 1992 and April 2017, the construction companies met weekly to analyse tenders for works carried out by the various…

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