Esther Koplowitz announced today, in a statement sent to the CNMV, the cancellation of her debt with businessman Carlos Slim, which amounted to a value of 843.4 million euros, guaranteed through more than 60 million FCC shares.
Thus, the Mexican magnate, through Inversora Carso, has managed to increase his participation in the construction company FCC15.4% to 76.6%, while the Spanish businesswoman will only hold 5.4% of the company. However, Koplowitz will continue to hold positions on the Board of Directors, including the Presidency, which is held by one of his daughters.
Through this operation, Slim more than reinforces his presence at FCC, a firm that it rescued a few years ago through the injection of 1,700 million euros, and which has restructured and started back on the path to profits.
In any case, both parties have left the door open for the businesswoman to recover part of her participation later, since Carso “is considering granting a purchase option of 5% of the FCC shares to Esther Koplowitz”.
The origin of this debt is in 2014, originally contracted by BBVA and Bankia, but later acquired by Inversora Carso for a value of 599 million euros, with a term that expired on April 30.
The construction company is not going through its best moments, after losing 60% of its profit during the first quarter of the year, due to the current coronavirus pandemic, which is why he decided to make a provision of 20 million. However, from FCC they consider that the impact on their accounts will be even greater during the second quarter, after which period a progressive recovery would begin.
On the positive side, the firm has decided to keep its dividend, which was approved last Tuesday, for a value of 0.40 euros per share, representing a total of 156 million euros.
After the announcement, FCC’s mid-session shares accumulate falls of more than 2%, to stand at around 8.6 euros per share. The construction company has lost part of its value so far this year, after having started 2020 above 10.50 euros.
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