mexican tycoon to launch takeover bid for spanish builder fcc
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Mexican tycoon to launch takeover bid for Spanish builder FCC

Arab Today, arab today

Arab Today, arab today Mexican tycoon to launch takeover bid for Spanish builder FCC

Mexican billionaire Carlos Slim
Madrid - AFP

Mexican billionaire Carlos Slim’s holding company Inversora Carso said Friday it would launch a bid for all of Spain’s debt-laden construction group FCC.

The company said in a statement sent to Spanish stock market regulator CNMV it would pay 7.60 euros ($8.36) for each share of FCC which it does not already own.

Inversora Carso said it had increased its stake in FCC to 36.6 percent after a 709.5-million-euro rights issue and was required to launch the takeover bid.

Under Spanish law, any shareholder that raises its stake in a company above 30 percent is required to launch a full bid for this company.

A property boom lasting a decade had driven FCC to invest heavily, but the market collapsed in 2008, leaving it with staggering debt.

The company has sought to diversify its business into sectors other than construction and now gets part of its earnings from environmental services such as waste management.

Telecoms magnate Slim is the world’s fourth-richest man, with a net worth of around $50 billion, according to Forbes.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

mexican tycoon to launch takeover bid for spanish builder fcc mexican tycoon to launch takeover bid for spanish builder fcc

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

mexican tycoon to launch takeover bid for spanish builder fcc mexican tycoon to launch takeover bid for spanish builder fcc

 



GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 00:49 2017 Tuesday ,28 February

New vehicle scanner to ease Oman border rush

GMT 10:50 2018 Monday ,08 January

L'anza unveils sprayable styling paste Airpaste

GMT 16:40 2012 Monday ,20 February

New Ferrari Enzo

GMT 13:47 2013 Friday ,22 March

FM: Greece takeover process of Cypriot banks

GMT 19:13 2017 Monday ,16 October

6 wounded in USA oil rig blaze near New Orleans

GMT 16:34 2016 Sunday ,25 September

Pakistani air force jet crashes, killing pilot

GMT 20:53 2017 Wednesday ,14 June

Media council abandon complaint against writer

GMT 20:59 2017 Tuesday ,31 October

IMF official says Egypt's economy

GMT 15:19 2017 Wednesday ,29 November

Five things to watch out for in 2018
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday