EconomyFinancialCarlos Slim seeks to strengthen his presence in Spain...

Carlos Slim seeks to strengthen his presence in Spain with the acquisition of more shares of Metrovacesa

The Spanish water treatment and construction company FCC, whose majority shareholder is the Mexican telecommunications tycoon Carlos Slim, announced on Wednesday a takeover bid for 24% of the Spanish real estate company Metrovacesa.

In a document sent to the Spanish stock market authority CNMV (National Securities Market Commission), FCC (Fomento de Construcciones y Contratas) stated that it had submitted a takeover bid for 36.4 million shares of Metrovacesa, at a price of 7.80 euros per share. , which raises the operation to 284 million euros (about 310 million dollars).

If it prospers, FCC, which already owns 5.5% of Metrovacesa, would increase its participation to 29.4%. Currently, the main shareholders of Metrovacesa are the banks Santander (49.4%) and BBVA (20.8%).

This offer, "in line with the strategy and interests of the FCC group", according to the document sent to the CNMV, would allow Carlos Slim, one of the richest men in the world, to strengthen his presence in the Spanish real estate market.

The 82-year-old billionaire already controls the Spanish real estate company Realia, through FCC.

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